Business

Finance Minister says Cyprus loan rates may be further reduced

by fm

21st February 2011

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1 min read

Finance Minister Charilaos Stavrakis has said that the effort of its Ministry is to “convey to foreign investors the message that there has been a significant improvement of Cyprus economic indicators” so as to further reduce Cyprus loan rates.

Stavrakis did not rule out the possibility of issuing new bonds if there are low-cost sources for loans in the market that will be to the benefit of the Cypriot citizen.

Invited to comment on a reference by a representative of the International Monetary Fund who visited Cyprus recently, that there is a big different in the loan rates of Cyprus and Germany, Stavrakis said that this is a fact, adding that during the last days however there has been a serious decrease in the five year and ten year loan rates of Cyprus bonds.

He added that “we have covered that largest part of the needs of the Cyprus government for the next few months,” adding that the effort is to reduce further loan rates of the Republic of Cyprus.