Cyprus: Staff Report for the 2000 Article IV Consultation

August 25, 2000

Summary

Cyprus’s economic performance in the past quarter century has been impressive but volatile, as the economy has come to rely on tourism as the main engine of growth. Financial market restrictions, including the interest rate ceiling, limit the ability of the Central Bank of Cyprus to manage liquidity. Capital and financial market liberalization are planned to be implemented by the time of EU accession. Executive Directors commended the authorities for their efforts to improve the oversight of the offshore financial sector.

Subject: Balance of payments, Capital account liberalization, Financial markets, Government debt management, Inflation, Prices, Public debt, Public financial management (PFM), Stock markets

Keywords: aggregate credit target, Capital account liberalization, ceiling, CR, deficit, equity holding, Europe, financial market liberalization, government, Government debt management, government organization, Inflation, ISCR, staff appraisal, Stock markets

Pages:
41
Volume:
2000
DOI:
https://doi.org/10.5089/9781451809800.002
Issue:
110
Series:
Country Report No. 2000/110
Stock No:
1CYPEA0012000
ISBN:
9781451809800
ISSN:
1934-7685

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Notes

Included with the Staff Report are the text of Public Information Notice No. 67 and a statement by J. de Beaufort Wijnholds on August 3, 2000

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