articles | 27 July 2017

Cyprus’ debt rose to €19.35b in Q2 2017

Cyprus` public debt in the second quarter of 2017 amounted to €19.35 billion, the Cyprus Public Debt Management Office (PDMO) said recently.

According to data released by the PDMO, Cyprus’ debt marked an increase of €222 million or 1.16% compared with the previous quarter.

The rise in Cyprus’ debt is mainly attributed to the increase in the stock of EMTN bonds which rose by €304 million reaching €4.5 billion.

Compared with the second quarter of 2016, Cyprus’ debt rose by €633 million or 3.4% reflecting the bond of €1 billion issued in July 2016 which has been used to roll over debt and increase the island’s cashbuffers.

The debt in domestic bonds amounted to €1.27 billion, down by €96 million compared with the previous quarter.

Total debt in loans both domestic and foreign amounted to €12.7 billion.

Source: CNA

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