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

Author/Editor:

International Monetary Fund

Publication Date:

August 14, 2009

Electronic Access:

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Summary:

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.

Series:

Country Report No. 09/255

Subject:

English

Publication Date:

August 14, 2009

ISBN/ISSN:

9781451809978/1934-7685

Stock No:

1CYPEA2009006

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

49

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