{"id":3244,"date":"2014-12-19T06:49:43","date_gmt":"2014-12-19T11:49:43","guid":{"rendered":"http:\/\/olduvai.ca\/?p=3244"},"modified":"2014-12-19T06:49:43","modified_gmt":"2014-12-19T11:49:43","slug":"imf-holds-back-cyprus-bailout-funds-world-news-theguardian-com","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=3244","title":{"rendered":"IMF holds back Cyprus bailout funds | World news | theguardian.com"},"content":{"rendered":"

IMF holds back Cyprus bailout funds | World news | theguardian.com<\/a>.<\/p>\n

The International Monetary Fund has said it will not release a further \u20ac88m (\u00a369m\/US$108m) in bailout money for Cyprus on Friday after the country\u2019s parliament delayed a key foreclosure law that was due to take effect at the end of December.<\/p>\n

\u201cFollowing today\u2019s suspension of the existing legislation on foreclosure, critical requirements for the completion of the fifth programme review are now no longer met,\u201d the IMF said in a statement. Its board had been set to discuss Cyprus\u2019s progress with the loan programme on Friday and was thought likely to release the next instalment of aid.<\/p>\n

Cyprus needed an international bailout of \u20ac10bn (\u00a37.8bn\/US$12bn) from the European commission and the monetary fund in early 2013, largely due to problems in its banking sector.<\/p>\n

The eurozone released its latest tranche of bailout loans to Cyprus in November after the government amended laws on foreclosures and on forced sales of mortgaged property in line with the conditions of the loan. The original laws would have made it easier for the country\u2019s hobbled banks to start collecting on bad loans, which account for around half of all loans.<\/p>\n

<\/p>\n

<\/a><\/a>…click on the above link to read the rest of the article…<\/span><\/span><\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

IMF holds back Cyprus bailout funds | World news | theguardian.com. The International Monetary Fund has said it will not release a further \u20ac88m (\u00a369m\/US$108m) in bailout money for Cyprus on Friday after the country\u2019s parliament delayed a key foreclosure law that was due to take effect at the end of December. \u201cFollowing today\u2019s suspension […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[2015,61,2016,418],"class_list":["post-3244","post","type-post","status-publish","format-standard","hentry","category-economics","tag-bailout","tag-banking","tag-cyprus","tag-imf"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3244","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3244"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3244\/revisions"}],"predecessor-version":[{"id":3245,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3244\/revisions\/3245"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3244"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3244"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3244"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}