Finance Minister Charris Georgiades has announced that some first points raised by the political parties regarding a government bill on foreclosures have been conveyed to the Troika, expressing at the same time the government`s intention to continue the dialogue with the parties with a view to reaching an acceptable bill. Amid fierce opposition from political

The rate of inflation in July decreased by -0,6%, compared to -1,2% in June 2014 and -0,3% in July 2013, the Statistical Service said on Thursday. The Statistical Service announced that the Consumer Price Index (CPI) in July decreased by 1,02 units or 0,86% to 117,35 units compared to 118,37 a month earlier. This is

A bill prepared by the Ministry of Finance, upon recommendation of the Central Bank of Cyprus (CBC) aims to end unauthorized increase in the profit margin of banks in lending rates. According to CNA sources, the Ministry of Finance is already in consultation with the banks on the bill, which provides for the prohibition of

The General Government Debt remained broadly stable at €18.56 bn at the end July 2014 (preliminary data) vis-a-vis the end of December 2013 when it was €18.4 bn., according to figures released today by the Public Debt Management Office of the Ministry of Finance. Average short term debt yields have continued to drop in June

IMF announced the replacement of its Mission Chief for Cyprus Delia Velculescu by American Mark Lewis. “After two and a half years as IMF`s Mission Chief for Cyprus and as part of her regular career progression, Delia Velculescu will be moving on to another IMF assignment at the end of September, once the fifth review

The Government reiterated on Thursday it would continue its efforts for full economic recovery. After Moody`s announcement made on Wednesday on the Cypriot economy, saying that it considers it “unlikely that there will be any meaningful economic recovery before 2016”, Government Spokesman Nicos Christodoulides said in a written statement that Moody`s “had forecast a recession

The Health Ministry has prepared a special action plan to address any possible cases of Ebola hemorrhagic fever, that will be implemented if and when the need arises, an official press release said on Wednesday, underlining at the same time that there is no reason to worry. The press release noted that the Health Ministry