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Minister: Bailed-out Cyprus’ economy on the mend

By WTOP Staff

NICOSIA, Cyprus (AP) — Cyprus’ finance minister says the bailed-out country will manage to keep its debt well below projections by its international creditors.

Harris Georgiades says debt will peak this year at 105 percent of gross domestic product and will show a modest 2-percentage-point drop in 2015.

That’ s much better than the 126 percent of GDP that both the European Union and the International Monetary Fund had forecast the debt to reach in 2015 before it starts to fall.

Georgiades told lawmakers Monday that the economy will contract this year by less than 3 percent of GDP.

That’s more than a percentage point lower than creditors said in a fifth review of the country’s 10-billion-euro ($12.75 billion) rescue program earlier this year.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Emergency guide: What you should do to prepare for emergencies

By WTOP Staff
WASHINGTON — Do you know what you'd do if an emergency hits? What if you're at work, your spouse is stuck in traffic and your children are in school? There's no way to plan for every emergency, but you can make sure you're prepared for different scenarios, including making a plan for your family and building a kit of emergency supplies.
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