Thursday, July 4, 2013

Ratings agency Fitch cut ratings, reliability of Cyprus into the level of delinquent in a limited.

Ratings agency Fitch retting reduced rate the reliability of long-term domestic currency of Cyprus. Down to the level of "delinquent in limited circles" (restricted default) After the Government of Cyprus has completed the legal bond redemption.
Recently, International Monetary Fund (IMF) has approved the first installment of the grant as part of Cyprus. The Board of management of the Ma fadai approved 3-year term loan under a project Loan Fund (EFF) extension for Cyprus as the Special Drawing Rights worth 891 million (SDR), or about 1.33 billion dollars. To support the economic restructuring plans of Cyprus

IMF Specified in the statement that such approval will make it possible to withdraw cash in the amount of SDR 74.25 million immediately or c. 110.7 million dollars. EFF credit as part of measures to help global financial cooperation with European integration limit 1.0 thousand million euros (1.29 million dollars thousand) agreed in March last year. This is. Approval of the grant of an MA fami after Cyprus received a loan two billion euro rescue from the European stabilization mechanism to preserve funds. (ESM), which is part of the aid limit 1.0 thousand million euros.

No comments:

Post a Comment