The Republic of Cyprus fully repaid on Thursday an International Monetary Fund (IMF) loan granted to the country in the period 2013-2016.
According to a written statement from the Ministry of Finance, the total repayment amounted to €716.67 million (569, 63 m SDR).
The early repayment of the loan, combined with its financing through a 20-year bond with an interest rate of 0.625%, is expected to yield to the Republic of Cyprus total savings of €13.4 million over the period 2020-2025.
“This transaction has been positively valued by international investors, as a strong indication of the momentum of the Cypriot economy in recent years,” the statement said.
(Cyprus News Agency)