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You are here: Home»Business»Banking & Finance»Cyprus will require up to 10bn in aid for banks: document

cyprus flag wavingNICOSIA: Cyprus will require up to 10 billion euros to refinance its banks, severely affected by the euro zone debt crisis and exposure to Greece, according to a draft deal with international lenders seen by Reuters on Friday.

 

The deal, contingent on approval from euro zone finance ministers and national parliaments, also states that the objective of an adjustment programme with the Mediterranean island is to achieve a primary balance of 4.0 percent of GDP in 2016.

 

Copyright Reuters, 2012


 



 
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Banking Review 2013


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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln