IMF downgrades projections for Cyprus
The International Monetary Fund has downgraded its projections for the Cypriot economy due to subdued trade and softer industrial production amid a global slowdown. In...
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IMF concerned over government wage bill
The IMF is concerned over the possibility of Cyprus’ increasing state wage crowding out public spending in productive areas of the economy, an IMF technocrat...
Opposition changes to foreclosures law undermine financial stability, IMF says
Opposition efforts to undo key reforms to the foreclosures framework are undermining the hard-won gains in restoring macro-financial stability, the International Monetary Fund (IMF) said...
Addressing inefficiencies in justice system ‘key to improving business environment’
Addressing inefficiencies in the justice system in Cyprus is key for improving the business environment and the enforcement of claims, the European Commission said on...
IMF to warn Italy’s debt poses major risk to euro zone economy
The International Monetary Fund has identified Italy’s debt as a major risk to the euro zone economy, together with global trade tensions and a hard...
Cyprus should pursue delayed reforms, IMF says
The International Monetary Fund (IMF) urged Cyprus on Tuesday to vigorously pursue long-delayed structural reforms and maintain strict fiscal discipline, as the economic recovery, though...
IMF downgrades Cyprus growth forecast
The International Monetary Fund (IMF) on Tuesday revised downward its 2019 growth forecast for Cyprus to 3.5 per cent from its October estimate of 4.2...
IMF welcomes economic progress but tags on risk-warning
The IMF said Thursday it expected Cyprus to maintain the capacity to repay its debt but warned that this could change under certain circumstances, including...
‘International lenders review confirms government’s orientation’
Remarks made in the sixth Post Programme Surveillance Mission (PPS) made to Cyprus this week by the international lenders that the island needs to continue...
Private and public debt still key danger to economy
Technocrats from the European Commission, the European Central Bank and the International Monetary Fund (IMF) are back on the island for their sixth post-programme surveillance...
IMF: banking sector still facing one of highest NPL ratios in Europe
Cyprus ‘ banking sector still faces one of the highest non-performing loan (NPL) ratios in Europe, while both private and public sectors have a large...
Lenders call on Cyprus to maintain fiscal discipline and speed up reforms
The European institutions (EC, ESM) the ECB and the IMF have called on Cyprus to maintain fiscal discipline and accelerate reforms, especially those linked to...
IMF: challenges remain to Greece’s long-term debt sustainability
Greece exits its third international bailout in August, but without further debt relief it may not be able to sustain market access in the long run,...
Cyprus in race against time to reduce NPLs
By Stelios Orphanides The Finance Ministry and the Central Bank of Cyprus on Thursday presented political parties with proposals to resolve the non-performing loans problem...
IMF pushes for tougher foreclosures law to tackle NPLs
The International Monetary Fund (IMF) said that it expects economic growth in Cyprus to pick up at 4 per cent this year and 4.2 per...
Europe not using good economic growth to reform, IMF says
European economic growth is strong, mainly thanks to domestic demand, but governments are not taking sufficient advantage of the good times to reduce their debt...
Cyprus to generate fiscal surpluses until 2023, IMF says
The Cypriot government is projected to post budget surpluses over the next six years through to 2023, according to the International Monetary Fund’s Spring 2018...
Private sector indebtedness still a concern, IMF says
Despite the sizable and sustained improvement in the island’s economy, private sector indebtedness remained high, putting pressure on banks and limiting new lending, the International...
Government debt falls 3.6 per cent
Cyprus central government debt stood at €18.315 billion at the end of 2017, a decline of 3.6 per cent compared with 2016, according to data...
Creditors repeat urge for reforms
Cyprus needs to take advantage of the current higher-than-expected economic growth to promote structural reforms that will help reduce risks to its financial system and...
