01/07/2014 (Agence Europe) - IMF releases €84 million for Cyprus. On 30 June, the International Monetary Fund (IMF) gave the go-ahead to the disbursement of €84 million for Cyprus. IMF Director General Christine Lagarde commented: “The Cypriot authorities are to be commended for their achievements during the first year of their economic programme. They recapitalised and restructured the financial sector, removed domestic payment restrictions, implemented an ambitious fiscal consolidation, and initiated important structural reforms. As a result, macroeconomic and fiscal outturns have been better than expected, and Cyprus recently re-accessed international capital markets. Looking ahead, challenges and risks remain, and full and timely policy implementation will be critical to the programme's continued success”. (EL)