## 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

_IMF Staff Country Reports, September 15, 2010_

## Source details

**Canonical URL:** [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](https://www.imf.org/en/publications/cr/issues/2016/12/31/cyprus-2010-article-iv-consultation-staff-report-staff-statement-public-information-notice-24216)

## Other formats

- [Markdown version](/en/publications/cr/issues/2016/12/31/cyprus-2010-article-iv-consultation-staff-report-staff-statement-public-information-notice-24216/index.md)
- [Structured JSON version](/en/publications/cr/issues/2016/12/31/cyprus-2010-article-iv-consultation-staff-report-staff-statement-public-information-notice-24216/index.json)
- [Bundle manifest](/en/publications/cr/issues/2016/12/31/cyprus-2010-article-iv-consultation-staff-report-staff-statement-public-information-notice-24216/bundle-manifest.json)

## Bibliographic details
- Published: September 15, 2010
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781455206414.002

---

### Economic outlook
- 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.

### Fiscal policy and public debt
- 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.

### Financial sector and banking risks
- Priority to provide fiscal space to guard against risks to the financial sector.
- Subjects noted: Banking, Commercial banks, Financial institutions, Loans, Nonperforming loans.

### Social protection and pensions
- Further old-age pension reform is essential.

### Structural reforms and competitiveness
- Structural reforms are needed to preserve competitiveness and enhance medium-term growth.

---

## Content in this bundle

- **_cr10291**
  - [_cr10291 (Markdown version)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2010/_cr10291.pdf.md){rel="alternate" type="text/markdown"}
  - [_cr10291 (PDF)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2010/_cr10291.pdf){rel="external" type="application/pdf"}

---

_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/cyprus-2010-article-iv-consultation-staff-report-staff-statement-public-information-notice-24216_