Cyprus : 2009 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Cyprus

1CYPEA2009006 Image
Price:  $18.00

Release Date: © August, 2009
ISBN : 978-1-45180-997-8
Stock #: 1CYPEA2009006
Stock Status: On back-order

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This 2009 Article IV Consultation highlights that despite its resilience so far, the economy of Cyprus is slowing down and risks are increasing. The expected slowdown will increase credit risk in banks, which, in some plausible but unlikely extreme scenarios, could have systemic implications given the size and concentration of the banking sector. Executive Directors have endorsed the government’s objective to achieve a balanced budget over the medium term. Directors have also recommended the adoption of a medium-term budget framework and more effective management of public sector liabilities.


Economic policy , Fiscal policy , Monetary policy , Pensions , Social policy

More publications in this series: IMF Staff Country Reports