March 20, 2013 / 7:26 AM / in 4 years

Cypriot minister hopes to secure Russia loan deal

MOSCOW (Reuters) - Cypriot Finance Minister Michael Sarris said before talks in Moscow that he hoped to secure a loan agreement with Russia on Wednesday.

"We're hoping for a good outcome, but we cannot really predict," Sarris told reporters on the way in to talks with Russian Finance minister Anton Siluanov.

Cyprus has asked Russia for a five-year extension of an existing loan of 2.5 billion euros ($3.22 billion) that matures in 2016, as well as a reduction in the 4.5 percent rate of interest.

Reporting by Lidia Kelly; Writing by Katya Golubkova, Editing by Timothy Heritage

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