Cyprus has no imminent plans for borrowing

Cyprus has no imminent plans to borrow from international markets because it has covered its financing needs for coming months, the Finance Ministry said on Thursday.
The island was responding to a warning from Moody's that it could downgrade its Aa3 rating for Cyprus government debt, citing fiscal deterioration and the banking sector's high exposure to debt-ridden Greece.
The conditions in financial markets were "exceptionally difficult" at present, the finance ministry said in a statement.