## 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](https://www.imf.org/en/publications/cr/issues/2022/05/31/cyprus-2022-article-iv-consultation-press-release-staff-report-and-statement-by-the-518467)

## Other formats

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- [Structured JSON version](/en/publications/cr/issues/2022/05/31/cyprus-2022-article-iv-consultation-press-release-staff-report-and-statement-by-the-518467/index.json)
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## Bibliographic details
- Published: June 1, 2022
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400211591.002

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### 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

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## Content in this bundle

- **1cypea2022002**
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_Source: https://www.imf.org/en/publications/cr/issues/2022/05/31/cyprus-2022-article-iv-consultation-press-release-staff-report-and-statement-by-the-518467_