Cyprus : Third Review under the Extended Arrangement under the Extended Fund Facility and Request for Modification of Performance Criteria, Staff Report, Press Release, and Statement by the Executive Director

Cyprus : Third Review under the Extended Arrangement under the Extended Fund Facility and Request for Modification of Performance Criteria, Staff Report, Press Release, and Statement by the Executive Director / International Monetary Fund.

EXECUTIVE SUMMARYExtended Arrangement: On May 15, 2013, the Executive Board approved a three-yearExtended Arrangement under the Extended Fund Facility in the amount of SDR 891 million (563 percent of quota; about?1 billion). Three purchases of amounts equivalent to SDR 74.25 million (about?86 millio...

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Bibliographic Details
Corporate Author: International Monetary Fund (Author)
Format: eBook
Language:English
Published: Washington, District of Columbia : International Monetary Fund, 2014.
Series:IMF Staff Country Reports.
Subjects:
International Monetary Fund > Cyprus.
International Monetary Fund
Economic development > Cyprus.
Economic indicators > Cyprus.
Fiscal policy > Cyprus.
Structural adjustment (Economic policy) > Cyprus.
BUSINESS & ECONOMICS > Industries > General.
Economic development
Economic indicators
Fiscal policy
Structural adjustment (Economic policy)
Cyprus
Online Access:Click for online access
Table of Contents:
  • Cover; CONTENTS; BACKGROUND; RECENT ECONOMIC DEVELOPMENTS; FIGURES; 1. Recent Economic Developments; 2. Labor Market; 3. External Indicators; 4. Recent Fiscal Developments; 5. Financial Sector Developments; MACROECONOMIC OUTLOOK; BOXES; 1. A Credit-less Recovery?; POLICY DISCUSSIONS; A. Financial Sector Policy-Addressing NPLs and Normalizing Payment Flows; 2. Cooperative Credit Sector Restructuring Strategy; 3. Private Sector Debt Restructuring: Main Issues; B. Fiscal Policy-Maintaining Fiscal Prudence; C. Structural Fiscal Reforms-Stepping-Up the Reform Momentum.
  • PROGRAM MODALITIES AND FINANCINGSTAFF APPRAISAL; 6. External Debt Sustainability: Bound Tests; 7. Public Debt Sustainability Analysis: Risk Assessment; 8. Public Debt Sustainability Analysis: Realism of Baseline Assumptions; 9. Public Sector Debt Sustainability Analysis: Baseline Scenario; 10. Public Debt Sustainability Analysis: Composition of Public Debt and Alternative Scenarios; 11. Public Debt Sustainability Analysis: Stress Tests; TABLES; 1. Selected Economic Indicators, 2008-20; 2. Fiscal Developments and Projections, 2008-20.
  • 3. Calculation of Gross Financing Requirements and Sources of Financing, 2013-174. Balance of Payments, 2008-20; 5. External Financing Requirements and Sources, 2012-2020; 6. Monetary Survey, 2008-20; 7. Indicators of Fund Credit, 2010-20; 8. Schedule of Reviews and Purchases; 9. External Debt Sustainability Framework, 2008-2020; 10. Restrictive Measures on Transactions; 11. Selected Reforms: Measures Completed; 12. MEFP Commitments; 13. Conditionality for the Third Review; APPENDIX; 1. Letter of Intent; Attachments; 1. Memorandum of Economic and Financial Policies.

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