As of yesterday, Cyprus moved on to activate phase 3 of the government’s strategy to lift restrictive measures imposed due to Covid19. Due to Cyprus’ excellent epidemiology record thus far, phase 3 will end on June 24, and the complete lifting of measures is scheduled to end on July 14, 2020.
Read full articleThe measures implemented by the Central Bank of Cyprus (CBC), a nine-month loan repayment moratorium and a €1.4 billion capital release issued to the banks, gave time both to the banks and the economy to recover part of their cash flow as lockdown measures enforced to curb the spread of the coronavirus outbreak are gradually lifted, CBC Governor Constantinos Herodotou has said.
Read full articleThe government should be cautious in channeling public funds until there is clarity concerning the development of the crisis caused by the coronavirus outbreak, the Fiscal Council said in its spring report, stressing that the crisis has once more highlighted the need to promote reforms to strengthen the Cypriot economy.
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