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Finance Minister Georgiades: US authorities satisfied over progress in Cyprus economy
2013-12-06 14:50:28

The US authorities are satisfied over the progress in the Cypriot economy following the agreement on a €10 billion bailout between Cyprus and its international lenders.

The Cypriot Minister of Finance Harris Georgiades met with his US counterpart Jack Lew in Washington, with whom he discussed the correction course of the Cyprus economy after the bailout that featured a haircut to deposits over €100,000 that shattered the island`s oversized banking sector.

So far Cyprus had two positive programme implementation reviews by the Troika of the European Commission, the European Central Bank and the IMF. Cyprus received 4.7 billion of the €10 billion bailout.

Source: CNA/KYΠΕ (12/6/2013)

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