By the end of September 2023, Cyprus's central government debt decreased to €22.5 billion, showing a reduction of €1.33 billion or 5.6% compared to the end of June of the same year.

When compared to the same period last year (September 2022), the central government debt recorded a decrease of €1.24 billion, equating to a 5.2% reduction.

The Public Debt Management Office (PDMO) released a quarterly bulletin stating that in August 2023, the Cypriot Republic prematurely repaid a domestic bond worth €300 million, which was due in January 2024. Additionally, in July 2023, a European medium-term note of €1 billion matured.

Public treasury bill maturities for the third quarter of 2023 amounted to €75 million. Repayments of bonds to individuals, including early repayments, reached €18 million. Loan repayments during the same period totaled €17 million.

According to the PDMO, the auctioning of 13-week Public Treasury Bills in the third quarter of 2023 amounted to approximately €35 million. The average weighted yield of these auctions increased to 3.9%, up from 3.5% in the second quarter of 2023.

There was a decrease in the coverage ratio of auctions during the same quarter, dropping from 3.8 in the previous quarter to 2.7.

Disbursements from the European Investment Bank for infrastructure projects in July and August amounted to €45 million.

Regarding the debt structure, 58.4% is allocated to foreign bonds, followed by the European Stability Mechanism (ESM) loan at 28.8%, and 8% in loans from the European Investment Bank, the Council of Europe Development Bank, and the EU's SURE fund.

It is noted that 96% of the debt is external, with only 4% constituting domestic debt. Long-term debt represents 99% of the central government's total debt, with just 1% being short-term.

It is reminded that the central government's debt accounts for 99% of the general government's debt (the total debt of the Cypriot Republic).