“This enhances the reliability of Cyprus while trying to convince our European counterparts on the need to reach an agreement on a loan agreement the soonest possible”, said Shiarly. It is premature to discuss the issue of haircut of the Cyprus public debt, Minister of Finance Vasos Shiarly has stated.
Shiarly, speaking during a press conference on Thursday, said that the seriousness shown by the political parties on the approval of 2013 state budget constitutes a very important tool in the government’s efforts to convince Troika (IMF, EC, ECB) and the Eurozone Finance Ministers for concluding a Memorandum.
Shiarly welcomed the near-unanimous approval of the 2013 state budget and bills, which were included in the budget, by the Plenary of the House of Representatives. “I couldn’t expect a more positive response by the political leadership as a whole”, he pointed out.
“This enhances the reliability of Cyprus while trying to convince our European counterparts on the need to reach an agreement on a loan agreement the soonest possible”, said Shiarly.
At the same time, the Finance Minister said that there is no doubt that the state’s liquidity needs for December, January and February are covered.
Commenting on an article of a German newspaper, which argues that the IMF demands a haircut of the Cyprus debt in order to participate in the financial support of Cyprus, Shiarly said that such an issue does not exist.
“The IMF has made no such reference and it is unnecessary to comment on allegations that the IMF supposedly made that kind of statement," he said, adding that "it would be premature to discuss at this stage sustainability issues” before Pimco announces its final report in mid-January that will contain the amount deemed necessary for the recapitalisation of Cyprus` banking sector. — (KYPE)
FinMin: It is premature to discuss a Cyprus debt haircut