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No deal yet on Cyprus bailout-EU/IMF
November 23, 2012 / 2:05 PM / in 5 years

No deal yet on Cyprus bailout-EU/IMF

BRUSSELS, Nov 23 (Reuters) - International lenders and Cyprus have made progress on agreeing a bailout for the Mediterranean island but discussions will continue and there is no deal yet, the European Commission, the European Central Bank and the International Monetary Fund said.

“Discussions are expected to continue from respective headquarters with a view to making further progress toward a potential program,” the statement said.

“The preliminary results of a bank due-diligence exercise, expected in the next few weeks, will inform discussions between official lenders and Cyprus on financing solutions consistent with debt sustainability,” it said.

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