Cyprus: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Cyprus
IMF Staff Country Reports, June 1, 2022
Source details
- Canonical URL
- Cyprus: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Cyprus
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Bibliographic details
- Published: June 1, 2022
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400211591.002
Overview and context
- Cyprus is highly exposed to the fallout from the war in Ukraine through trade with Russia.
- This shock compounds lingering effects of the pandemic and financial vulnerabilities dating from the 2012–13 crisis.
- Recovery is supported by investments and structural reforms in the Recovery and Resilience Plan.
Growth projections and outlook
- Growth is projected to slow from 5½ percent in 2021 to around 2 percent this year.
- Recovery will regain momentum in 2023, and is projected to continue in the medium term, supported by investments and structural reforms in the Recovery and Resilience Plan.
Key subjects and vulnerabilities identified
- COVID-19
- Financial crises
- Financial institutions
- Health
- International organization
- Monetary policy
- Nonperforming loans
- Public debt
- Revenue administration
Keywords and focal areas highlighted
- authorities of the Republic of Cyprus
- authorities project tourist arrival
- authorities' contingency plans
- climate goal
- COVID-19
- Global
- liability positions vis-à-vis nonresident
- Nonperforming loans
- policy credibility of the authorities
- public debt debt ratio
- Residential Property price index
Content in this bundle
- 1cypea2022002