IMF Demands Cyprus Debt Haircut as Precondition for Aid

Euro-zone member state Cyprus badly needs a bailout, but the International Monetary Fund is demanding a debt haircut first, according to media reports. The resulting standoff with Europe has delayed the country’s badly needed aid package. To ward off insolvency, Nicosia has raided the pension funds…

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IMF Demands Cyprus Debt Haircut as Precondition for Aid

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