{
  "title": "Cyprus: Staff Report for the 2000 Article IV Consultation",
  "publication": "IMF Staff Country Reports, August 25, 2000",
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  "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.",
  "sections": [
    {
      "heading": "Executive summary",
      "content": "- \"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.\"\n- \"Financial market restrictions, including the interest rate ceiling, limit the ability of the Central Bank of Cyprus to manage liquidity.\"\n- \"Capital and financial market liberalization are planned to be implemented by the time of EU accession.\"\n- \"Executive Directors commended the authorities for their efforts to improve the oversight of the offshore financial sector.\"\n- 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."
    },
    {
      "heading": "Key themes and findings",
      "content": "- Economic structure and performance\n  - Heavy reliance on tourism as the main engine of growth.\n  - Performance described as \"impressive but volatile\" over the past quarter century.\n- Financial markets and monetary management\n  - Existence of financial market restrictions that constrain policy.\n  - Specific constraint: \"the interest rate ceiling\" limits the Central Bank of Cyprus’s ability to manage liquidity.\n- Capital account and market liberalization\n  - \"Capital and financial market liberalization are planned to be implemented by the time of EU accession.\"\n- Offshore financial sector oversight\n  - Executive Directors \"commended the authorities for their efforts to improve the oversight of the offshore financial sector.\""
    },
    {
      "heading": "Subjects and keywords",
      "content": "- Subject:\n  - Balance of payments\n  - Capital account liberalization\n  - Financial markets\n  - Government debt management\n  - Inflation\n  - Prices\n  - Public debt\n  - Public financial management (PFM)\n  - Stock markets\n- Keywords:\n  - aggregate credit target\n  - Capital account liberalization\n  - ceiling\n  - CR\n  - deficit\n  - equity holding\n  - Europe\n  - financial market liberalization\n  - government\n  - Government debt management\n  - government organization\n  - Inflation\n  - ISCR\n  - staff appraisal\n  - Stock markets\n\n---\n\n Content in this bundle\n\n- Cyprus:Staff Report for the 2000 Article IV Consultation - ISCR/00/110\n  - Cyprus:Staff Report for the 2000 Article IV Consultation - ISCR/00/110 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Cyprus:Staff Report for the 2000 Article IV Consultation - ISCR/00/110 (PDF){rel=\"external\" type=\"application/pdf\"}\n- Statement by IMF Executive Director J. de Beaufort Wijnholds on Cyprus, August 3, 2000\n  - Statement by IMF Executive Director J. de Beaufort Wijnholds on Cyprus, August 3, 2000 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Statement by IMF Executive Director J. de Beaufort Wijnholds on Cyprus, August 3, 2000 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: August 25, 2000",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781451809800.002",
    "\"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.\"",
    "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.",
    "Economic structure and performance",
    "Capital account and market liberalization",
    "Offshore financial sector oversight",
    "Subject:",
    "Keywords:",
    "**Cyprus:Staff Report for the 2000 Article IV Consultation - ISCR/00/110**",
    "**Statement by IMF Executive Director J. de Beaufort Wijnholds on Cyprus, August 3, 2000**"
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