Latest Headlines

All reports tagged with: "debt"

Cyprus faces “sizeable downside risks”

Following its mission to Cyprus the International Monetary Fund said that “sizeable downside risks” still exist, citing an extremely high private sector debt and a high proportion of non-performing loans (NPLs).

Small drop in non-performing loans

Although non-performing loans had fallen by €180 million at the end of January compared to the previous month, as a percentage of total loans the figure remained the same at 47.2 per cent.

Cyprus needs to accelerate debt reduction

The International Monetary Fund (IMF) has called on Cyprus to speed up reductions in public and private debt to rebuild confidence and deliver balanced, sustainable growth, and support balance sheet repair.

Aristo settles Bank of Cyprus debt

Aristo Developers has reached an agreement with the Bank of Cyprus to repay its debts, leaving the company with approximately €443 million of assets and around €110 million of outstanding loans.

What is a floating charge?

Land Registry searches in Cyprus occasionally reveal floating charges/mortgages as encumbrances lodged against the title of a property; in this article Dr George Mountis explains.

Little progress on Immovable Property Tax debtors

Phileleftheros, the Greek language newspaper, has reported that little progress has been made to collect the €9.6 million Immovable Property Tax plus interest owed by developers and hotels.

Open letter to John Hourican

In an open letter to John Hourican, the CEO of the Bank of Cyprus, a buyer from Scotland asks if the bank intends to call in the security it holds on homes to help repay developers’ debts.

Back to top