AP reports that Cyprus has paid off ahead of schedule an International Monetary Fund loan that was part of a multi-billion euro financial rescue deal in 2013, the finance minister said Tuesday.
Minister Constantinos Petrides pointed out the loan’s early repayment would bolster the country’s credibility in the eyes of investors and improve its ability to raise money directly from international markets.
The minister said the bond issues cover most of Cyprus’ financing needs for the year and save the country 15 million euros in interest payments on the IMF loan.
RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations, Greek travel market, Greek tourism statistics, Greek tourism report
