Government central bank deposits seen at €1.5bn in October

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By Stelios Orphanides

The central government had €1.5bn deposited at its account at the Central Bank of Cyprus at the end of October, less than a week before a partial repayment of its debt to the bank supervisor, the latter said.

On November 6, the government repaid €614.9m to the central bank plus €6.3m in interest against its loan which stood at the end of last month at over €1.1bn, helping reduce overall government debt below the 100 per cent mark for the first time since 2012. Government deposits at the end of November stood at €1.4bn.

The size of the central bank’s balance sheet last month was €15.8bn, against €15.5bn in September, it said.

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Stelios Orphanides is a journalist at CyprusBusinessMail.com. To contact Stelios Orphanides: [email protected]