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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 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln