The Minister of Finance, Konstantinos Petridis, characterizes the current issue of the 5th bond of € 1 billion as extremely successful, which gathered the historically lowest yield on a 5-year bond, which is estimated to range at 0,05% to 0,06%.
In a written statement, Mr. Petridis pointed out that the issue raised "the lowest interest rate ever achieved for a 5-year period in the Republic of Cyprus" and that the issue was exceeded eight times, after bids of € 8 billion were received against € 1 billion. was the announced amount.
"This fact, combined with the indicative performance, shows that in this difficult international economic situation, due to the pandemic, the international markets continue to show their confidence in the Cypriot economy and its policies," said Mr. Petridis.
The Ministry of Finance also stressed that "at a time when the crisis has seriously affected much of economic activity, the issuance of this bond enhances liquidity to address the economic impact of the pandemic."
"The government's primary concern was, and remains, to secure the necessary ammunition, which will allow us to support the welfare state and the health system until the economy recovers, while ensuring fiscal sustainability," he concludes.