Cyprus: Eighth Review Under the Extended Arrangement Under the Extended Fund Facility and Request for Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Cyprus

September 25, 2015

Preview Citation

Format: Chicago

Cyprus: Eighth Review Under the Extended Arrangement Under the Extended Fund Facility and Request for Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Cyprus, (USA: International Monetary Fund, 2015) accessed November 23, 2024

Summary

This paper discusses Cyprus’ Eighth Review Under the Extended Arrangement Under the Extended Fund Facility and Request for Modification of Performance Criteria (PC). Cyprus continues to recover from the crisis, and program performance remains generally strong. Risks to the program remain, although their impact would likely be manageable. The domestic political situation remains a challenge to policy implementation. Despite the reduced real and financial linkages between Greece and Cyprus, developments in Greece have the potential to affect Cyprus through the confidence channel. Based on the continued progress under the program and policy commitments going forward, the IMF staff supports the completion of the eighth review and the proposed modifications of PCs.

Subject: Asset and liability management, Banking, Credit, Debt restructuring, Financial institutions, Loans, Money, Nonperforming loans, Public debt

Keywords: CR, Credit, Debt restructuring, Disbursement of SDR, Foreclosure regime, Global, Government, IMF Deputy managing director, ISCR, Loans, Nonperforming loans, Reform effort, Reform momentum

Publication Details

Pages:

73
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2015/271
Stock No:

1CYPEA2015002
ISBN:

9781513536347
ISSN:

1934-7685

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