Reduction of bond yield the safest sign that Cyprus economy is on track

The yield of the Cypriot ten-year bond declined to a two-year low at 5.6% on Friday from the all-time high of 14.6% reached in June 2012, reflecting the improvement in the fundamentals of the economy, experts told CNA earlier today.

“There could not be a safer and clearer sign that the economy is on the right track,” said Georgiades commenting the yield reduction.

He however stressed that the difficulties remain noting that the economy should stand on its feet gain “without the support and the guardianship of others,” implying the bailout Cyprus receives from its international lenders, that is the EC, the ECB and the IMF.