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Cyprus repaid in advance 1.56 bln euro debt to Russia - Bloomberg

Cyprus borrowed money from Russia with the aim of avoiding financial aid from the European Union and IMF

© Mark Wilson/Getty Images

MOSCOW, September 2. /TASS/. Cyprus made a decision to repay in advance the loan extended by Russia in 2011, Bloomberg news agency reports on Monday, referring to a statement of the Cyprus’ Ministry of Finance.

Cyprus repaid 1.56 bln euro to Russia as of September 2. Funds for early repayment were obtained owing to the budget surplus and bonds floating in May, the news agency said.

Cyprus borrowed money from Russia with the aim of avoiding financial aid from the European Union and IMF. The aid was eventually required.

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