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Cypriot Finance Minister Calls 10-Year Bond Interest 'Historic'

Published January 22, 2026, 10:26
Cypriot Finance Minister Calls 10-Year Bond Interest 'Historic'

The Cypriot Ministry of Finance has described the €16.5 billion bid for the Republic of Cyprus's €1 billion 10-year bond issue as a historic event. The secured interest rate of 3.25% is the lowest compared to recent bond issues by other countries, such as Greece and Portugal. Finance Minister Makis Keravnos emphasized that this confirms the recognition of the government's sound economic policy by foreign investors, creating conditions of stability and security. The government is committed to continuing this policy, which, according to the Minister, will ensure the future development of the economy and allow the transfer of positive results to society. It is noted that the bond issue does not constitute additional debt, but a replacement for a bond that has matured. Furthermore, public debt has already been reduced to around 55% of GDP, exceeding the initial target of 60% for the end of the year. This development creates opportunities to increase spending on development projects and social policy. The huge demand for the Cypriot bond indicates strong confidence from international investors in the Cypriot economy and the government's ability to manage public finances responsibly.