{
  "title": "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",
  "publication": "IMF Staff Country Reports, September 15, 2010",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/cyprus-2010-article-iv-consultation-staff-report-staff-statement-public-information-notice-24216",
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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.",
  "sections": [
    {
      "heading": "Economic outlook",
      "content": "- Economic conditions have stabilized.\n- The economy is projected to bottom out in 2010, giving way to a mild recovery in 2011 followed by stronger growth thereafter.\n- The government largely shared the IMF staff’s assessment."
    },
    {
      "heading": "Fiscal policy and public debt",
      "content": "- Foremost policy challenge: achieve the official fiscal consolidation targets.\n- Objective: put debt ratios on a declining path and provide more space to guard against risks to the financial sector."
    },
    {
      "heading": "Financial sector and banking risks",
      "content": "- Priority to provide fiscal space to guard against risks to the financial sector.\n- Subjects noted: Banking, Commercial banks, Financial institutions, Loans, Nonperforming loans."
    },
    {
      "heading": "Social protection and pensions",
      "content": "- Further old-age pension reform is essential."
    },
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      "heading": "Structural reforms and competitiveness",
      "content": "- Structural reforms are needed to preserve competitiveness and enhance medium-term growth.\n\n---\n\n Content in this bundle\n\n- cr10291\n  - cr10291 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr10291 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: September 15, 2010",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781455206414.002",
    "Economic conditions have stabilized.",
    "The economy is projected to bottom out in 2010, giving way to a mild recovery in 2011 followed by stronger growth thereafter.",
    "The government largely shared the IMF staff’s assessment.",
    "Foremost policy challenge: achieve the official fiscal consolidation targets.",
    "Objective: put debt ratios on a declining path and provide more space to guard against risks to the financial sector.",
    "Priority to provide fiscal space to guard against risks to the financial sector.",
    "Subjects noted: Banking, Commercial banks, Financial institutions, Loans, Nonperforming loans.",
    "Further old-age pension reform is essential.",
    "Structural reforms are needed to preserve competitiveness and enhance medium-term growth.",
    "**_cr10291**"
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