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NICOSIA Men's Nike Air Max 90 Hyperfuse All Black Australia , 22 (Xinhua) -- Moody's Investors Service has changed the outlook on Cyprus' Caa3 government bond rating to positive from negative, a statement made available in Nicosia on Saturday said.

The statement cited as reasons for its change of outlook the stronger-than-expected fiscal and economic performances of Cyprus in 2013 and the Cypriot authorities' track record of meeting conditions under the Troika funding program.

"This increases confidence that it will continue to benefit from this support", the statement said.

Cyprus received a 10-billion euro(14-billion-U.S. dollar) bailout assistance from the Eurogroup and International Monetary Fund a year ago, which involved the resolution of its banking system with the first-ever bank bail-in -- the use of depositors' money to recapitalize banks.

This model of recapitalization was adopted as official European Union policy at a two-day EU summit meeting which ended on Friday.

Moody's said it affirmed Cyprus' Caa3 bond rating because "of the persistent risks that remain to Cyprus' public finances and their sustainability over the medium term as a result of significant uncertainties to the prospects for the macro-economy and banking sector.

However, Moody's said it has raised the local and foreign-currency bond ceilings of Cyprus to Caa1 from Caa2, reflecting a lower likelihood of exit from the euro area as the country achieves its targets under the Troika program.

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The most beneficial factor about retiring within the Philippines is which you can adjust your lifestyle to your pension or budget. A good deal of pleased expat retirees within the country are living on an income of $800 to $1,000 per month. Since of the low cost of living Men's Nike Air Max 2018 Triple Black Australia , some chose to open their own enterprise and are living opulent lives on a $2,000 to $2,500 income range.

If you’re planning to retire in the Philippines, set your spending budget depending on the lifestyle that you want also as your everyday requirements, and do your own analysis to prepare you within the major move that you are about to create.

Destination Philippines

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