Financial crises

Central Bank keeps inflation forecast unchanged

Turkey's Central Bank on Jan. 30 announced its inflation forecasts for 2020-21 remain unchanged.

The bank projected Turkey's year-end inflation to stand at 8.2 percent at by the end of 2020 and 5.4 percent at end-2021, the governor Murat Uysal said during a meeting on inflation report 2020-I.

It is also expected to stabilize around 5 percent in the medium term, he added.

NBG swaps Greek govt bonds with new 30-year bond issue

National Bank (NBG), Greece's second-largest lender, swapped government bonds worth about 3.8 billion euros ($4.22 billion) with a new 30-year government bond, the finance ministry said on Tuesday, yielding a capital gain for the bank.

The swap reduces the government's refinancing risk as bonds maturing in 5.4 years were exchanged for a new issue maturing in 2050.

Cyprus repays crisis-era IMF loan ahead of schedule

Cyprus has paid off ahead of schedule an International Monetary Fund loan that was part of a multi-billion euro financial rescue deal in 2013, the finance minister said Tuesday.

Minister Constantinos Petrides said the loan's early repayment would bolster the country's credibility in the eyes of investors and improve its ability to raise money directly from international markets.

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