AKEL demands banks rise to the occasion

Statement by AKEL C.C. Spokesperson Stefanos Stefanou

AKEL C.C. Press Office, 23 March 2020, Nicosia

Despite the fact that several days have passed since the Central Bank’s announcement making recommendations to the banks to show the necessary flexibility for loans, nothing concrete has yet been announced from them towards this end and citizens are justifiably concerned.

Banks must respond and proceed to the freezing of the loans, that is to say, the freezing of installments and any charges they place on the loans. Only in this way will citizens be facilitated to pay off their loans when the difficult economic situation caused by the pandemic is overcome.

In addition, the banks are called upon to extend the foreclosure suspension period. The three months that have been announced are far from sufficient