Cyprus:Selected Issues

Publication Date:

December 14, 2017

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

This paper analyzes the economic effects of weak claims enforcement for Cyprus. Claims enforcement in Cyprus is considerably less efficient than in most European Union countries. The banking crisis, which led to a spike in the number of pending litigious civil and commercial cases, could be a factor in the low enforcement efficiency. For Cyprus, piecemeal reform of the enforcement framework may have limited success, and a wholesale review is likely needed. Adding updated components may not fit well with the underlying civil procedure. Instead a comprehensive review, with a focus on limiting case suspensions allowed under interim applications and considering an alternative compensation basis for lawyers should be considered.

Series:

Country Report No. 2017/376

Subject:

English

Publication Date:

December 14, 2017

ISBN/ISSN:

9781484332757/1934-7685

Stock No:

1CYPEA2017003

Pages:

46

Please address any questions about this title to publications@imf.org