Cyprus to repay Russian loan early

Cyprus is considering the issuance of a new bond to repay part of the Russian loan. Back in 2011 Cyprus sought Russian assistance at a time when it had no access to financial markets, as Demetris Christofias's government was trying to avoid requesting a bailout from the EU and the IMF.
During a meeting Tuesday between Finance Minister Haris Georgiades and the new Governor of the Central Bank Constantinos Erodotou, Georgiades said Cyprus is considering a new bond in order to repay the Russian loan and that relevant statements will follow soon when the move will be finalized.
"It is a fact that the data on the Cypriot economy in international markets is extremely positive and this creates some opportunities that we evaluate and will not hesitate to capitalize on. The main purpose is to carry out moves that further shield the Cypriot economy, taking advantage of the progress...