05/02/2003 23:41
The Finance Minister, Takis Clerides, has expressed the possibility of freezing the accrual of interest on investment loans ahead of the imminent presidential elections, relieving in this way the investors who remained exposed to banks after the dramatic collapse of equity prices in 1999.
Despite the fact that the Central Bank of Cyprus, the commercial banks, international agencies and the IMF have expressed their disagreement with such plans said it will continue to assist hemmed investors.
Meanwhile, presidential candidate, Tassos Papadopoulos has already announced the freezing of investors’ debts. Mr. Clerides, however, said that Mr. Papadopoulos should be aware of the fact that the Central Bank of Cyprus and the other commercial banks oppose the idea.
Despite the fact that the Central Bank of Cyprus, the commercial banks, international agencies and the IMF have expressed their disagreement with such plans said it will continue to assist hemmed investors.
Meanwhile, presidential candidate, Tassos Papadopoulos has already announced the freezing of investors’ debts. Mr. Clerides, however, said that Mr. Papadopoulos should be aware of the fact that the Central Bank of Cyprus and the other commercial banks oppose the idea.
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