Church of Cyprus disputes financial claims regarding Paphos Metropolis

The Audit Department of the Church of Cyprus and the Paphos Metropolis have issued a joint statement refuting claims made by lawyer Irineos Antoniou Giakoumakis regarding financial mismanagement. Giakoumakis, representing the former Bishop of Paphos, Tychikos, alleged that the Archbishopric had granted high-interest loans to the Paphos Metropolis. Church authorities characterized these statements as inaccurate and defamatory. According to the official statement, the multi-million euro loans existed before the current Archbishop George assumed the throne in 2006, having been contracted under his predecessor to fund the construction of over 50 churches and various infrastructure projects. The Church stated that efforts to restructure debt and increase revenue have significantly reduced the financial burden since 2006. They further asserted that the loans would have been nearly fully repaid by the end of 2022 if not for the 2013 economic crisis and the COVID-19 pandemic. The statement serves as a formal rebuttal to claims that sought to shift responsibility for the debt onto the current leadership.