Cyprus should get its first bailout disbursement in less than two months, the chief of the eurozone's rescue fund said early Monday after a political agreement on a new aid package was thrashed out, DPA reported.
"We should be in the position to make the first disbursement in early May," said Klaus Regling, the managing director of the European Stability Mechanism.
But first, experts from the country's international creditors have to work out the technical details. That deal was expected to be finalized by mid-April, Eurogroup chief Jeroen Dijsselbloem said.
The agreements reached on the restructuring of Cyprus' two largest banks can proceed "without further delay," thanks to a new resolution recently adopted by parliament in Nicosia, Dijsselbloem said.