Cyprus Confident of Bond-Market Access After Bailout Exit
- Finance Minister Harris Georgiades speaks in interview
- Government working on swaps for bonds maturing in 4 to 5 years
Cyprus's Georgiades Says Country Must Continue Reforms
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Cyprus Finance Minister Harris Georgiades said he’s confident in his country’s ability to access the bond market, after the government won the blessing of its European partners and the International Monetary Fund to exit a three-year-old aid program with no safety net.
Even if there is “some nervousness” in debt markets lately, Cyprus’s borrowing cost is now lower than it was “back in the good days,” before the country sought emergency loans from the IMF and the euro area, Georgiades said in a Bloomberg TV interview in Brussels. Yields on 10-year notes fell 2 basis point to 4.06 percent at 3:42 p.m. in Nicosia on Tuesday. That’s up from a low this year of 3.75 percent in January.