IMF chief warns full global economic recovery unlikely in 2021
The global economy will take much longer to recover fully from the shock caused by the new coronavirus than initially expected, the head of the...
IMF
Coronavirus: IMF predicts Cyprus economy to shrink by 6.5% this year
Cyprus’ GDP is projected to contract by 6.5 per cent this year as a result of measures and policies being taken worldwide to contain the...
Cyprus productivity growth weak, private debt high- IMF
Cyprus’ productivity growth has been weak and private sector indebtedness remained high, the IMF said on Tuesday, urging the government to intensify efforts to address...
High debt, NPLs could magnify any external shocks to Cyprus economy, experts say
Economic experts on Tuesday debated whether the recovering Cyprus economy was ready to weather any external shocks after putting its house in order for the...
Cyprus to borrow €1.25bn from international markets in 2020
Cyprus’ financing needs for 2020 to be covered by bond issuances in the international capital markets amount to €1.25 billion, the Finance Ministry’s Public Debt...
IMF revises downwards projections for Cypriot economy
The International Monetary Fund downgraded its projections for the Cypriot economy as part of the slowdown of the global economy, due to subdued trade and...
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...
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...