Russia ready to discuss Cyprus' terms of restructuring loan - finance minister
DURBAN, South Africa. March 26 (Interfax) - Russia is ready to discuss terms of restructuring the $2.5-billon loan to Cyprus that the island state has been offered, Russian Finance Minister Anton Siluanov told journalists.
"We are ready to discuss the parameters [of restructuring the loan: extending the period up to five years and reducing the rate from 4.5% to 2.5%]," Siluanov said, noting that this will be equal to signing off 10% of the debt.
Siluanov said earlier that that Russia and Cyprus will resume the talks on loan after the Cypress parliament adopts a package of measures that allow the island to receive financial aid from the European Union.
Russian presidential spokesman Dmitry Peskov said earlier that President Vladimir Putin ordered the government and the Finance Ministry to work out together with Cypriot partners terms of restructuring the loan given to Cyprus.
