LEADER 06421oam 22013814 450 001 9910779768503321 005 20230803020828.0 010 $a1-4843-4991-1 010 $a1-4843-1745-9 010 $a1-4843-8194-7 035 $a(CKB)2550000001063292 035 $a(EBL)1587936 035 $a(SSID)ssj0001075952 035 $a(PQKBManifestationID)11687663 035 $a(PQKBTitleCode)TC0001075952 035 $a(PQKBWorkID)11251560 035 $a(PQKB)11028970 035 $a(MiAaPQ)EBC1587936 035 $a(Au-PeEL)EBL1587936 035 $a(CaPaEBR)ebr10739553 035 $a(CaONFJC)MIL497421 035 $a(OCoLC)876510673 035 $a(IMF)1CYPEE2013001 035 $a(IMF)1CYPEA2013001 035 $a(EXLCZ)992550000001063292 100 $a20020129d2013 uf 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aCyprus : $eRequest for an Arrangement Under the Extended Fund Facility 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2013. 215 $a1 online resource (131 p.) 225 1 $aIMF Staff Country Reports 300 $aDescription based upon print version of record. 311 $a1-4843-6524-0 311 $a1-299-66171-8 320 $aIncludes bibliographical references. 327 $aCover; CONTENTS; BACKGROUND; RECENT ECONOMIC DEVELOPMENTS; BOXES; 1. Dealing with the Problem Banks; 2. Spillovers from Economic and Financial Developments in Cyprus; 3. Temporary Administrative Measures; PROGRAM STRATEGY; MACRO ECONOMIC FRAMEWORK; 4. Cyprus: Impact of the Crisis on Economic Activity; DEBT SUSTAINABILITY; POLICY DISCUSSIONS; A. Financial Sector Policy; B. Fiscal Policy; C. Structural Fiscal Reforms; PROGRAM MODALITIES; A. Access, Phasing and Conditionality; B. Capacity to Repay the Fund and Risks to the Program; STAFF APPRAISAL; FIGURES; 1. Macroeconomic Imbalances 327 $a2. Selected Economic Indicators 3. Selected Structural and Competitiveness Indicators; 4. Selected Financial Sector Indicators; 5. Selected Structural Fiscal Issues; TABLES; 1. Selected Economic Indicators and Macroeconomic Framework, 2008-2020; 2. Fiscal Developments and Projections, 2008-2020; 3. Calculation of Gross Financing Requirement and Sources of Financing; 4. Balance of Payments, 2008-2020; 5. External Financing Requirements and Sources, 2012-2020; 6. Indicators of Fund Credit, 2012-2020; 7. Schedule of Review and Purchase; ANNEXES; 1. Public Sector Debt Sustainability Analysis 327 $a2. External Sector Debt Sustainability Analysis 3. Exchange Measures Giving Rise to Fund Jurisdiction Under Article VIII of the Fund's Articles of Agreement; APPENDICES; 1. Letter of Intent; Attachment 1. Memorandum of Economic and Financial Policies; Attachment 2. Technical Memorandum of Understanding; 2. Letter of Intent to the European Commission; Attachment 1. Memorandum of Understanding on Specific Economic Policy Conditionality (European Commission) 330 3 $aCyprus experienced significant internal and external imbalances owing to the European financial crisis. The oversized and weak banking sector continued to be a threat to the sovereign. Greek debt restructuring, together with loan losses of both Cyprus and Greece, resulted in the two largest banks being declared insolvent. However, the authorities have taken unprecedented steps to address the country?s banking problems. Temporary administrative controls have been taken to preserve financial stability, while the Extended Fund Facility (EFF) arrangement has been aimed to stabilize the financial system and achieve fiscal sustainability. 410 0$aIMF Staff Country Reports; Country Report ;$vNo. 2013/125 606 $aBanks and banking$zCyprus 606 $aBanks and Banking$2imf 606 $aFinancial Risk Management$2imf 606 $aMacroeconomics$2imf 606 $aMoney and Monetary Policy$2imf 606 $aPublic Finance$2imf 606 $aFinance: General$2imf 606 $aBanks$2imf 606 $aDepository Institutions$2imf 606 $aMicro Finance Institutions$2imf 606 $aMortgages$2imf 606 $aFiscal Policy$2imf 606 $aDebt$2imf 606 $aDebt Management$2imf 606 $aSovereign Debt$2imf 606 $aInterest Rates: Determination, Term Structure, and Effects$2imf 606 $aTaxation, Subsidies, and Revenue: General$2imf 606 $aBanking$2imf 606 $aPublic finance & taxation$2imf 606 $aFinance$2imf 606 $aMonetary economics$2imf 606 $aCommercial banks$2imf 606 $aPublic debt$2imf 606 $aFiscal consolidation$2imf 606 $aFiscal stance$2imf 606 $aFinancial institutions$2imf 606 $aFiscal policy$2imf 606 $aRevenue administration$2imf 606 $aBanks and banking$2imf 606 $aDebts, Public$2imf 606 $aInterest rates$2imf 606 $aDebts, External$2imf 606 $aRevenue$2imf 607 $aCyprus$xEconomic conditions 607 $aCyprus$2imf 615 0$aBanks and banking 615 7$aBanks and Banking 615 7$aFinancial Risk Management 615 7$aMacroeconomics 615 7$aMoney and Monetary Policy 615 7$aPublic Finance 615 7$aFinance: General 615 7$aBanks 615 7$aDepository Institutions 615 7$aMicro Finance Institutions 615 7$aMortgages 615 7$aFiscal Policy 615 7$aDebt 615 7$aDebt Management 615 7$aSovereign Debt 615 7$aInterest Rates: Determination, Term Structure, and Effects 615 7$aTaxation, Subsidies, and Revenue: General 615 7$aBanking 615 7$aPublic finance & taxation 615 7$aFinance 615 7$aMonetary economics 615 7$aCommercial banks 615 7$aPublic debt 615 7$aFiscal consolidation 615 7$aFiscal stance 615 7$aFinancial institutions 615 7$aFiscal policy 615 7$aRevenue administration 615 7$aBanks and banking 615 7$aDebts, Public 615 7$aInterest rates 615 7$aDebts, External 615 7$aRevenue 712 02$aInternational Monetary Fund. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910779768503321 996 $aCyprus$9684414 997 $aUNINA