19 Mar 2021
The Cyprus economy will recover in the second half of 2021 and the economic and fiscal disruption caused by the pandemic will dissipate over the forecast horizon, according to Capital Intelligence Ratings.
Affirming the Cyprus long-term foreign currency rating (LT FCR) and short-term foreign currency rating (ST FCR) at ‘BB+’ and ‘B’, respectively, the rating agency said the outlook was affirmed as ‘stable’.
“The ratings are also supported by generally sound macroeconomic management and proactive public debt management, with the government securing its financing needs through uninterrupted access to capital markets while building an emergency cash buffer to counter short-term shocks,” said CI Ratings.
19 Mar 2021
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