Cyprus hopes to ease capital controls as soon as possible but cannot say when that might happen, the island's Finance Minister Michael Sarris said on Tuesday.
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The island nation earlier on Tuesday announced a partial relaxation of currency controls that were introduced when banks reopened on March 28 after a two-week shutdown while the government negotiated a 10 billion euro ($12.85 billion) bailout.
Under the terms of the bailout deal agreed earlier on Tuesday, the island will pay an interest rate of 2.5% on its rescue loans, with repayment starting in 10 years, the government spokesman said. The loans will repaid over 12 years, Sarris said.