Statement by the European Commission, ECB and IMF on the Fifth Review Mission to Cyprus
July 25, 2014
Staff teams from the European Commission (EC), European Central Bank (ECB), and the International Monetary Fund (IMF) visited Nicosia during July 14-25, 2014 for the fifth review of Cyprus's economic program, which is supported by financial assistance from the European Stability Mechanism (ESM) and the IMF.
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Cyprus and The IMF
Transcript of a Conference Call on the Concluding Statement of the 2014 Article IV Consultation with Cyprus
Press Release: Statement by the European Commission, ECB and IMF on the Fifth Review Mission to Cyprus
Cyprus and the IMF
- Member since December 21, 1961
- Quota: SDR158.20 million
Each member country of the IMF is assigned a quota, based broadly on its relative position in the world economy. A member country's quota determines its maximum financial commitment to the IMF, its voting power, and has a bearing on its access to IMF financing.
- Cyprus is represented in the Executive Board
The Executive Board is responsible for conducting the day-to-day business of the IMF. It is composed of 24 Directors, who are appointed or elected by member countries or by groups of countries. The Managing Director serves as its Chairman. The Board usually meets several times each week. It carries out its work largely on the basis of papers prepared by IMF management and staff.
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