Cyprus: 2010 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Cyprus
Electronic Access:
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Summary:
Economic conditions have stabilized, and the economy is projected to bottom out in 2010, giving way to a mild recovery in 2011 followed by stronger growth. The foremost policy challenge is to achieve the official fiscal consolidation targets so as to put debt ratios on a declining path and provide more space to guard against risks to the financial sector. Further old-age pension reform is also essential. Structural reforms are needed to preserve competitiveness and enhance medium-term growth. The government largely shared the IMF staff’s assessment.
Series:
Country Report No. 2010/291
Subject:
Banking Commercial banks Expenditure Financial institutions Loans Nonperforming loans Public debt
English
Publication Date:
September 15, 2010
ISBN/ISSN:
9781455206414/1934-7685
Stock No:
1CYPEA2010002
Pages:
53
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