International Monetary Fund approves 126m euro installment in bailout funds for Cyprus

September 23, 2015 11:36 PM

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NICOSIA, Cyprus – The International Monetary Fund has approved the disbursement of another 126 million euros ($140.5 million) for bailed-out Cyprus, saying that the island nation's reform program continues to be "a success."

The IMF said Wednesday total disbursements so far amount to around 882 million euros ($983.4 million) from a contribution of around 1 billion euros. Another 9 billion euros is being provided by the European Union's bailout fund.

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