The new Cypriot Minister of Economy warned today that public funds Cyprus could end later this month, once the first tranche of the bailout should not arrive before May.
"The financial situation is difficult and is borderline" explained Yeoryiadis, in committee of the country's economy, which provided information on the current state reserves.
Spokesman of the Government, Jristós Stilianidis, said the executive "will do everything possible so that there is a suspension of payments" in April.
According to another government source quoted by AFP, the country urgently needs 75 million euros to secure the payment of salaries and pensions in the public sector in April.
160 million is needed to meet the obligations this month, the same source said, adding that Cyprus has "boxed" only 85 million reserve, needing to quickly obtain external financing.
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