Russia's Finance Minister Alexei Kudrin
Πηγή: apa
Dec 23 2011
Baku - APA-ECONOMICS. Cyprus said Friday it had concluded a EUR2.5 billion loan deal with Russia, and was expecting the first tranche of that loan to be paid out within a matter of days.
In a statement, Cyprus’ finance ministry announced that the deal had been signed in Moscow, and "the first loan disbursement will be executed by Dec. 31, 2011."
The statement gave no further details.
Since the start of the year, Cyprus has seen its borrowing costs rise after repeated downgrades by credit ratings companies on concerns over its economy, budgetary risks, and its banking sector’s exposure to Greece.
In September, amid the turmoil in international credit markets, the Cypriot government held talks with several countries, including Russia, over securing a bilateral loan.
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