Cyprus: Staff Report for the 2006 Article IV Consultation

Author: International Monetary Fund

Volume/Issue: Volume 2007 Issue 076

Publication date: February 2007

ISBN: 9781451809909

$20.00

Add to Cart by clicking price of the language and format you'd like to purchase

Available Languages and Formats


English

Prices in red indicate formats that are not yet available but are forthcoming.

Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Exports and Imports , Inflation , Economics- Macroeconomics , Public Finance , ISCR , CR , Cyprus , government , government of the Republic of Cyprus , inflation criterion , exchange rate , IMF staff estimate , accession to the European Union , Cooperative banks , Public investment and public-private partnerships (PPP) , Global , Europe

Also of interest

Peru

Grenada

Nepal

Republic of Congo : 2001 Article IV

Summary

This 2006 Article IV Consultation highlights that economic activity in Cyprus has recovered from a relatively weak performance in 2002–03. Declines in interest rates and strong capital inflows associated with Cyprus’s accession to the European Union in May 2004 spurred growth in private consumption and investment while recovering tourist receipts reduced the external drag on the economy. The economy is experiencing rapid credit growth and brisk housing price increases. Total credit to the private sector accelerated recently, with mortgage lending leading the expansion.