06961oam 22014654 450 991081949720332120240402134235.01-4755-3712-31-4843-4778-11-4843-4784-6(CKB)2550000001276681(EBL)1676621(SSID)ssj0001217773(PQKBManifestationID)11647888(PQKBTitleCode)TC0001217773(PQKBWorkID)11207875(PQKB)11442109(MiAaPQ)EBC1676621(Au-PeEL)EBL1676621(CaPaEBR)ebr10861169(CaONFJC)MIL598682(OCoLC)878263474(IMF)1CYPEE2014001(IMF)1CYPEA2014001(EXLCZ)99255000000127668120020129d2014 uf 0engur|n|---|||||txtccrCyprus : 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 Director1st ed.Washington, D.C. :International Monetary Fund,2014.1 online resource (130 p.)IMF Staff Country ReportsDescription based upon print version of record.1-4843-4759-5 1-306-67431-X 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 MomentumPROGRAM 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, 2008-203. 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 Policies2. Technical Memorandum of Understanding3. Memorandum of Understanding on Specific Economic Policy Conditionality (European Commission)Cyprus’s Third Review Under the Extended Arrangement Under the Extended Fund Facility focuses on strong ownership and implementation of its program. Despite the difficult environment in which the authorities operate, the political commitment remains strong while every effort is being made to maintain strong social cohesion. Steadfast implementation has produced tangible results with indications that the healing process is already under way. Although a difficult adjustment is still ahead, with the guidance of EU and IMF staff, Cyprus has placed itself in a good position to continue along the agreed path.IMF Staff Country Reports; Country Report ;No. 2014/092Economic developmentCyprusEconomic indicatorsCyprusFiscal policyCyprusStructural adjustment (Economic policy)CyprusBanks and BankingimfMacroeconomicsimfMoney and Monetary PolicyimfPublic FinanceimfIndustries: Financial ServicesimfBanksimfDepository InstitutionsimfMicro Finance InstitutionsimfMortgagesimfMonetary Policy, Central Banking, and the Supply of Money and Credit: GeneralimfTaxation, Subsidies, and Revenue: GeneralimfDebtimfDebt ManagementimfSovereign DebtimfMacroeconomics: ConsumptionimfSavingimfWealthimfInstitutions and the MacroeconomyimfBankingimfPublic finance & taxationimfMonetary economicsimfFinanceimfCreditimfRevenue administrationimfPublic debtimfLoansimfMoneyimfNonperforming loansimfFinancial institutionsimfBanks and bankingimfRevenueimfDebts, PublicimfCyprusimfEconomic developmentEconomic indicatorsFiscal policyStructural adjustment (Economic policy)Banks and BankingMacroeconomicsMoney and Monetary PolicyPublic FinanceIndustries: Financial ServicesBanksDepository InstitutionsMicro Finance InstitutionsMortgagesMonetary Policy, Central Banking, and the Supply of Money and Credit: GeneralTaxation, Subsidies, and Revenue: GeneralDebtDebt ManagementSovereign DebtMacroeconomics: ConsumptionSavingWealthInstitutions and the MacroeconomyBankingPublic finance & taxationMonetary economicsFinanceCreditRevenue administrationPublic debtLoansMoneyNonperforming loansFinancial institutionsBanks and bankingRevenueDebts, Public338.9International Monetary Fund,DcWaIMFBOOK9910819497203321Cyprus684414UNINA