
Finance ministers of the 17-member Eurogroup endorsed the disbursement of the next tranche of financial assistance to Cyprus on Monday. "After completion of the national procedures and formal approval by the ESM governing bodies, the ESM is scheduled to disburse 100 million euro (USD 137 million) by the end of this year," said the ministers in a statement after the end of their meeting here tonight. The European Stability Mechanism, ESM, is the permanent EU fund to give financial assistance to eurogroup members states when they face economic and financial problems. The statement noted that the economic adjustment programme in Cyprus "is on track" and added that the International Monetary Fund is scheduled to decide on the disbursement of an additional 86 million euro (USD 118 million) on December 20. The Eurogroup last March decided to bailout Cyprus with 10 billion euro (USD 13.7 billion) during the next three years to save the country from bankruptcy. The ESM is expected to provide up to 9 billion euro and the IMF is to contribute 1 billion euro.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:06 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 16:17 2018 Monday ,12 November
Egypt working on 4-year plan to increase growth rateGMT 12:45 2018 Friday ,09 November
Egyptian agriculture products introduced to Japanese markeGMT 11:42 2018 Friday ,02 November
Turkey's new mega airport, boon for slowing economyGMT 13:42 2018 Monday ,29 October
Egypt's trade volume hits $67.63 bln over 9 monthsGMT 15:13 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 14:46 2018 Thursday ,11 October
Economy and energy dominate agenda in Russian-Slovak relationsMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor