WHAT ARE CYPRUS’ TOTAL FINANCING NEEDS?
Cyprus’ total gross financing needs are estimated at €23 billion from the second quarter of 2013 to the first quarter of 2016. This includes recapitalisation of the banking sector, the redemption of maturing medium- and long-term debt including loans and fiscal needs.
Of this amount:
– the euro zone bailout fund will provide €9 billion
– the International Monetary Fund will provide €1 billion
– Cyprus will come up with €13 billion
WHAT THE 10 BLN FROM INTERNATIONAL LENDERS WILL BE SPENT ONRead More