IMF Staff Country Reports

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

Author/Editor:

International Monetary Fund

Publication Date:

September 15, 2010

Electronic Access:

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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. The foremost policy challenge is to achieve the official fiscal consolidation targets so as to put debt ratios on a declining path and provide more space to guard against risks to the financial sector. Further old-age pension reform is also essential. Structural reforms are needed to preserve competitiveness and enhance medium-term growth. The government largely shared the IMF staff’s assessment.

Series:

Country Report No. 10/291

Subject:

Article IV consultation reports Bank supervision Budget deficits Commercial banks Current account deficits Cyprus Deposit insurance Economic indicators Financial sector Fiscal reforms Pension reforms Public information Public sector Staff Reports Wage policy