Non-Performing Loans: A €22 Billion Burden On The Cypriot Economy

Non-performing loans (NPLs) in Cyprus, totalling €22 billion, continue to pose a significant challenge to the country’s economic stability, accounting for 73.4% of its GDP as of 2023. The Central Bank of Cyprus reported that the outstanding loan portfolio managed by Credit Acquisition Companies (CACs) and banks stood at €21.8 billion by the end of December 2023. Key figures include €14.2 billion in residential mortgage loans and €4.1 billion in business loans, with consensual debt restructuring efforts amounting to €4.1 billion.

Detailed Figures and Economic Impact

Residential Mortgage Loans: €14.2 billion
Business Loans: €4.1 billion
Debt Restructuring: €4.1 billion
Outstanding Loan Portfolio: €21.8 billion

Economic Concerns

The high level of NPLs reflects significant financial strain on both households and businesses, hindering economic growth and stability. Efforts to restructure debt and reduce the NPL burden are ongoing, but the scale of the problem remains substantial.

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Strategic Measures

Authorities and financial institutions are focusing on comprehensive debt restructuring, improved credit practices, and regulatory measures to address the NPL issue. These efforts are crucial for restoring financial health and promoting sustainable economic development in Cyprus.

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Bitcoin Surges 23% In A Week As Investor Optimism Returns

by News Editor

August 21, 2026

Bitcoin was on track for a weekly gain of around 23% on Friday as a series of positive macroeconomic and policy developments boosted investor sentiment.

The cryptocurrency was trading about 6% higher at roughly $77,000, up from around $62,800 at the start of the week. Crypto-related stocks also rallied, with Coinbase and Circle gaining more than 9%, while Strategy rose 7%.

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Macro Factors Fuel Rally

Bitcoin’s latest surge began Wednesday after Treasury yields fell sharply following a major intervention by the U.S. Treasury in the bond market. Lower yields eased pressure on risk assets and helped trigger a broader move into cryptocurrencies.

The rally was further amplified by a major short squeeze. Around $2.7 billion in crypto short positions were liquidated, according to CoinGlass.

Max Stuedlein, head of Partnerships at Sygnum APAC, said the move reflected an alignment of macroeconomic and policy catalysts, including the Treasury’s decision to increase buybacks of longer-dated government debt.

Clarity Act Boosts Sentiment

Investor confidence improved further on Thursday as the White House and crypto industry leaders made a final push to advance the Clarity Act in the coming weeks.

The legislation is widely viewed as a potential catalyst for the crypto market, although its chances of passing remain relatively limited.

Despite the rally, bitcoin remains well below its 2026 high of $94,820 reached in January and its all-time high of $126,198, set last October.

Analysts See More Volatility Ahead

Lucy Gazmararian, founder and managing partner at Token Bay Capital, said the crypto market may be approaching the end of its bear cycle.

She expects bitcoin could experience one more decline of around 20% before the market turns, pointing to historical cycles and the recent liquidation of heavily leveraged short positions.

Gazmararian also described bitcoin as a long-term hedge against monetary debasement, while warning that its short-term price remains highly volatile and driven by market cycles.

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