IMF statement on Cyprus at the Eurogroup meeting

16 March 2013

Ms Lagarde said she welcomed the agreement reached to address Cyprus' economic challenges.

Christine Lagarde, Managing Director of the International Monetary Fund (IMF), issued the following statement today following the Eurogroup meeting: “The IMF has always said that we would support a solution that is sustainable, that is fully financed, and that appropriately allocates the burden-sharing. I believe that the agreed package meets these three objectives. On this basis, I intend to make a recommendation to our Executive Board for the IMF to contribute to the financing of the package.”

Full press release

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