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No plans to ask Russia for loan restructuring — Cyprus government

February 24, 2015, 20:20 UTC+3 NICOSIA
We are very grateful and satisfied with terms for the repayment of Russian loan, Cyprian government spokesman said
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© EPA/KATIA CHRISTODOULOU

NICOSIA, February 24. /TASS/. Restructuring of a 2.5-billion-euro loan Russia extended to Cyprus in 2011 is not on the agenda of upcoming talks in Moscow of Cyprian President Nikos Anastasiadis, Cyprian government spokesman Nikos Christodoulides told TASS on Tuesday.

"We are very grateful and satisfied with terms for the repayment of Russian loan," he said. Russia has recently revised the initial terms of the loan, reducing the lending interest rate from 4.5% to 2.5%, while the deadline on the main debt has been moved from 2016 to 2018-2021.

"President’s visit to Russia will present an opportunity to express personally and at the highest level our gratitude for this tangible manifestation of support, that reflect sincerity, depth and stability of our relations," the spokesman said.

He said painful measures to restore economy taken by the Cyprian government were yielding result, and gave hope that mistakes of the past would be corrected and would never repeat.

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