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IMF signs off on latest Cyprus bailout review

June 30, 2014

The International Monetary Fundís board on Monday confirmed Cyprus was on track with the conditions of its bailout programme, enabling the immediate disbursement of 84 million euros. The bailout, which totals nine billion euros from the IMF and the European Union over three years, is meant to stabilise Cyprusís financial system and help its economy recover. The IMF board also said it modified one of the fiscal performance criteria that Cyprus was supposed to meet by the end of June, without specifying further.

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Source: Cyprus Mail

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