Cyprus pushes for extension of Russia loan

The Standard
Tuesday 19th March, 2013

(31 mins ago) Cyprus Finance Minister Michalis Sarris was headed to Moscow to seek an extension to an existing Russian loan, a top official said, as the debt-laden island battles to stave off bankruptcy. Finance ministry director Andreas Charalambous said in Nicosia that securing an extension to the loan was very important as it would throw Cyprus an economic lifeline. ‘;The first issue is we have a large loan maturing in 2016 and if we manage to come to an understanding this will help facilitate our debt repayments and debt sustainability,” Charalambous said. ‘;If we manage to extend the …

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