02/04/2008 15:42
A two-member delegation of the international credit rating firm, Standard and Poor’s, had contacts on Wednesday with the Finance Minister, Charilaos Stavrakis and other Ministry’s officials. The delegation, which consists of Mrs. Anna Mates and Trevor Cullinal, is in Cyprus within the framework of an evaluation of the island’s economy. During the meetings, the two representatives were informed about the condition of Cyprus’s economy but a Finance Ministry representative avoided revealing further information. On Thursday and Friday the delegation will meet the Central Bank Governor, Athanasios Orphanides and other Central Bank officials.
S&P sees that the prospect of the island’s economy is positive. Its rating for the long-term debt is A and for the short-term debt A-1.
Most credit rating firms focus on the long term viability of the island’s public finances in view of the ageing population and the reformation of the pension system. They also deal with the crisis ion the international markets and its repercussion on the economies of the countries.
S&P sees that the prospect of the island’s economy is positive. Its rating for the long-term debt is A and for the short-term debt A-1.
Most credit rating firms focus on the long term viability of the island’s public finances in view of the ageing population and the reformation of the pension system. They also deal with the crisis ion the international markets and its repercussion on the economies of the countries.
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