Hidden Bibliographic Details
| Varying Form of Title: | Cyprus, ninth review under the extended arrangement
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| Other authors / contributors: | International Monetary Fund, issuing body.
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| ISBN: | 1498312640
9781498312646
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| ISSN: | 1934-7685
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| Notes: | "January 2016."
Includes bibliographical references.
Online resource; title from pdf title page (IMF Web site, viewed February1, 2016).
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| Summary: | The economic recovery has continued to gain strength even as progress on the structural reform agenda has been modest. Economic activity through September continued to exceed expectations; fiscal outturns are running ahead of projections; non-performing loans have stabilized; and bank deposits are rising. All end-September performance criteria were met. However, the implementation of the structural reform agenda has suffered delays. Discussions focused on key remaining policy priorities envisaged under the program and for the period beyond. The emphasis was on policies to accelerate reductions in non-performing loans (NPLs) in order to revive lending and boost growth. These included expanding the range of legal instruments available to banks and stepping up implementation of the new private debt restructuring framework. Discussions also stressed the need to lock in fiscal gains given still-high public debt, and avoid further delays in implementing structural reforms that are essential to sustainably re-invigorate growth and create employment.
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| Other form: | Print Version: Cyprus : Ninth Review Under the Extended Arrangement Under the Extended Fund Facility and Request for Waiver of Applicability of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Cyprus. Washington, D.C. : International Monetary Fund, 2016. 9781498312646
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| Standard no.: | 10.5089/9781498312646.002
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