Cyprus to Repay €12 Billion Social Insurance Fund Debt
The Cypriot government has announced plans to stop borrowing from the Social Insurance Fund and will begin a €12 billion repayment plan for its outstanding debt.
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Cyprus to end Social Insurance Fund borrowing and begin €12bn repayment plan
The government will halt borrowing from the Social Insurance Fund (SIF) and begin repaying an estimated €12 billion debt, labour minister Marinos Mousiouttas affirmed on Tuesday. Addressing stakeholders and trade unionists at a conference of the labour advisory body, Mousiouttas described the move as a “structural shift in how the state manages pension-related finances”, with […]
Read full article →Government to start €12bn Social Insurance Fund debt repayment
The Cyprus government will stop borrowing from Social Insurance Fund (SIF) surpluses and begin gradually repaying its 12-billion-euro debt to the Fund, possibly from the end of 2028, Labour Minister Marinos Moushouttas announced yesterday. Moushouttas informed social partners of the government decision at yesterday’s session of the Labour Advisory Body. He outlined three concrete steps, […]
By Angelos Angelodimou
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