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Financial Mirror (Cyprus) - - FRONT PAGE -

The level pub­lic debt is ex­pected to rise to 18.9 bln euros by the end of 2014, from 18.4 bln at the end of 2013, ac­cord­ing to the Fi­nance Min­istry.

A doc­u­ment pre­pared by the Min­istry, ti­tled “Medium-term debt man­age­ment strat­egy 20152019” notes that debt ma­tu­ri­ties are es­ti­mated at 1.3 bln euros for 2015, will rise to 1.75 bln in the 2016-2018 pe­riod, and for 2019 are es­ti­mated at 2.2 bln.

The Min­istry notes that the con­cen­tra­tion of debt ma­tu­ri­ties in the 2015-2020 pe­riod in­creases the risk for re­fi­nanc­ing debt dur­ing the first post­pro­gramme pe­riod, which starts in 2016.

It pro­poses to keep the lev­els of an­nual ma­tu­ri­ties low dur­ing this pe­riod, in or­der to mit­i­gated the need for se­cur­ing fi­nanc­ing from the mar­kets.

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