Cyprus makes early repayment of IMF

Cyprus makes early repayment of IMF

On February 27, 2020, the Republic of Cyprus proceeded with the full repayment of the International Monetary Fund loan granted in the period 2013-2016. The total amount was EUR 716.67 million (SDR 569.63 million).

The early repayment of this loan, coupled with its financing through a 20-year bond with an interest rate of 0.625%, is expected to yield to the Republic of Cyprus a total saving of EUR 13.4 million over the period 2020-2025.

This transaction has been positively valued by international investors as it is a strong indication of the dynamics of the Cypriot economy in recent years./ibna