Cyprus to get €1bn from IMF following restructuring deal

IMF to contribute just one-tenth of the bail-out.

The International Monetary Fund (IMF) will loan about €1 billion to Cyprus as part of a €10 billion rescue programme that was signed this week, Christine Lagarde, the managing director of the IMF, said yesterday (3 April). The remainder will be provided by the  European Stability Mechanism (ESM), the eurozone’s bail-out fund.

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