The Republic of Cyprus on Friday announced that its financial needs for the upcoming year amount to €1.3 billion, with the majority of that sum covered by an international issuance totalling €1 billion.
The Public Debt Management Office (PDMO) unveiled the annual financial programme for the next year, approved by the Minister of Finance in line with public debt management laws.
Specifically, the programme outlines plans for various financial instruments, including domestic three-month treasury bills worth €120 million, €40 million in domestic bonds for private entities, and an anticipated €140 million from supranational organisations, such as the European Investment Bank, and Council of Europe Development Bank).
The bulk of the financial requirements will be met through the issuance of a €1 billion European Medium-Term Note (EMTN), the office concluded.
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