Lenders up pressure on Cyprus to call in bad loans | Bangkok Post: news

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Lenders up pressure on Cyprus to call in bad loans

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NICOSIA - International lenders put new pressure on Cyprus politicians Friday to agree delayed legislation on foreclosure procedures for bad loans in the latest review of compliance over a multi-billion debt bailout. 

A Cypriot woman walks in front of a huge euro symbol outside the finance ministry in central Nicosia, December 22, 2007

Legislation for the calling-in of non-performing loans contracted during the island's credit boom and crash that prompted the international bailout of March 2013 is a pre-condition for the next instalment of emergency loans that are desperately needed to rescue state finances.

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