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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Hillenbrand Ind | NYSE:HB | NYSE | Ordinary Share |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.00 | - |
From Jul 2019 to Jul 2024
BRUSSELS--Cyprus and the International Monetary Fund reached an agreement Wednesday for a EUR1 billion lifeline that will supplement EUR9 billion in aid the island will get from its euro zone partners.
The Fund said its executive board will be asked to sign off on the assistance in early May.
In return, Cyprus will have to push cuts and savings worth 4.5% of annual economic output by 2018, on top of cuts worth 5% of GDP through to 2015. An extra 2% of GDP in savings will come from an increase in the country's corporate tax from 10% to 12.5% and a hike on interest-income tax from 15% to 30%.
The IMF's statement, quoting its managing director Christine Lagarde, said the Cypriot program was "challenging."
Cyprus, with an economy of about EUR17 billion, represents 0.2% of the euro zone's economic output.
Write to Matina Stevis at matina.stevis@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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