{"id":316,"date":"2012-06-28T09:31:04","date_gmt":"2012-06-28T09:31:04","guid":{"rendered":"http:\/\/www.globalbuzz.net\/europe\/?p=316"},"modified":"2012-06-28T09:31:04","modified_gmt":"2012-06-28T09:31:04","slug":"imf-to-assist-cyprus","status":"publish","type":"post","link":"https:\/\/www.globalbuzz.net\/europe\/news\/imf-to-assist-cyprus","title":{"rendered":"IMF to assist Cyprus"},"content":{"rendered":"<div id=\"attachment_317\" style=\"width: 541px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/www.globalbuzz.net\/europe\/files\/2012\/06\/eu-cyprus.jpg\" target=\"_blank\"><noscript><img decoding=\"async\" aria-describedby=\"caption-attachment-317\" class=\" wp-image-317 \" title=\"IMF to assist Cyprus\" src=\"http:\/\/www.globalbuzz.net\/europe\/files\/2012\/06\/eu-cyprus.jpg\" alt=\"IMF to assist Cyprus\" width=\"531\" height=\"225\" srcset=\"https:\/\/www.globalbuzz.net\/europe\/files\/2012\/06\/eu-cyprus.jpg 590w, https:\/\/www.globalbuzz.net\/europe\/files\/2012\/06\/eu-cyprus-300x127.jpg 300w\" sizes=\"(max-width: 531px) 100vw, 531px\"><\/noscript><img decoding=\"async\" aria-describedby=\"caption-attachment-317\" class=\" wp-image-317  lazyload\" title=\"IMF to assist Cyprus\" src=\"data:image\/svg+xml,%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20viewBox%3D%220%200%20531%20225%22%3E%3C%2Fsvg%3E\" alt=\"IMF to assist Cyprus\" width=\"531\" height=\"225\" srcset=\"data:image\/svg+xml,%3Csvg%20xmlns%3D%22http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%22%20viewBox%3D%220%200%20531%20225%22%3E%3C%2Fsvg%3E 531w\" sizes=\"(max-width: 531px) 100vw, 531px\" data-srcset=\"https:\/\/www.globalbuzz.net\/europe\/files\/2012\/06\/eu-cyprus.jpg 590w, https:\/\/www.globalbuzz.net\/europe\/files\/2012\/06\/eu-cyprus-300x127.jpg 300w\" data-src=\"http:\/\/www.globalbuzz.net\/europe\/files\/2012\/06\/eu-cyprus.jpg\"><\/a><p id=\"caption-attachment-317\" class=\"wp-caption-text\">IMF to assist Cyprus<\/p><\/div>\n<p>Washington &#8211; The head of the International Monetary Fund (IMF) said on Wednesday that the global lender was ready to join European countries in providing a financial aid package for Cyprus.<!--more--><\/p>\n<p>IMF managing director Christine Lagarde said in a statement that the Fund had received an invitation from Cyprus authorities to participate in the external financial assistance to contain the risks to the Cypriot economy.<\/p>\n<p>\u201cToday, the IMF received an invitation from the Cypriot authorities to participate in the external financial assistance to contain the risks to the Cypriot economy,\u201d said Lagarde.<\/p>\n<p>Cyprus said on Monday that it was applying for a bailout from the European Financial Stability Fund (EFSF) and the European Stability Mechanism (ESM) to help recapitalise its banking system and refinance its sovereign debt.<\/p>\n<p>&#8220;Cyprus Republic has today notified the competent European Authorities of its decision to submit an application to the Eurozone member countries for economic support by EFSF\/ESM,&#8221; an official announcement on Monday said.<\/p>\n<p>It added that the purpose of the funds sought is to contain risks to the Cyprus economy, &#8220;especially the negative repercussions resulting from the banking system because of its extensive exposure to the Greek economy\u201d.<\/p>\n<p>Cyprus has to raise at least 1.8 billion euros (US$2.25 billion) by the end of June to recapitalise Cyprus Popular Bank, the second largest lender of the island.<\/p>\n<p>&#8220;We stand ready to join the efforts of our European partners to help Cyprus return to stable and sustainable economic growth and restore a solid financial sector,&#8221; Lagarde said.<\/p>\n<p>She added that the IMF would send a team to Cyprus as soon as possible in preparation for discussions on an economic program that will help the country meet the economic challenges it is facing.&nbsp; \u2013 BuaNews-Xinhua<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Washington &#8211; The head of the International Monetary Fund (IMF) said on Wednesday that the global lender was ready to join European countries in providing a financial aid package for Cyprus.<\/p>\n","protected":false},"author":1,"featured_media":317,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[4,37,1],"tags":[631,1248,630,629],"class_list":["post-316","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-featured","category-news","tag-bail-out","tag-cyprus","tag-financial-package","tag-imf"],"_links":{"self":[{"href":"https:\/\/www.globalbuzz.net\/europe\/wp-json\/wp\/v2\/posts\/316","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.globalbuzz.net\/europe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.globalbuzz.net\/europe\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.globalbuzz.net\/europe\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.globalbuzz.net\/europe\/wp-json\/wp\/v2\/comments?post=316"}],"version-history":[{"count":2,"href":"https:\/\/www.globalbuzz.net\/europe\/wp-json\/wp\/v2\/posts\/316\/revisions"}],"predecessor-version":[{"id":319,"href":"https:\/\/www.globalbuzz.net\/europe\/wp-json\/wp\/v2\/posts\/316\/revisions\/319"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.globalbuzz.net\/europe\/wp-json\/wp\/v2\/media\/317"}],"wp:attachment":[{"href":"https:\/\/www.globalbuzz.net\/europe\/wp-json\/wp\/v2\/media?parent=316"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalbuzz.net\/europe\/wp-json\/wp\/v2\/categories?post=316"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalbuzz.net\/europe\/wp-json\/wp\/v2\/tags?post=316"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}