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Cyprus makes early payment on IMF loan
Cyprus on Tuesday repaid part of its bailout loan from the International Monetary Fund before the payment was due. The government paid €288m, cutting its debt to the IMF down to €700m, according to...
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Government makes early partial repayment to IMF
The Public Debt Management Office (PDMO) said that the government made a partial debt repayment earlier this month to the International Monetary Fund (IMF). “The prepayment of the order of €0.3bn...
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Eurozone countries and China receive IMF upvote
The International Monetary Fund kept its growth forecasts for the world economy unchanged for this year and next, although it revised up growth expectations for the eurozone and China. In an updated...
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IMF focuses on NPLs and private and public debt in Cyprus consultations
IMF representatives start today consultations with the government of Cyprus, focusing on the reduction of excessive private and public debt and the management of non-performing loans. Article IV...
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Why we should be wary of high-end developments
By Antonis Loizou FRICS WE HAD the opportunity to discuss with the IMF consulting group examining the Cyprus economy and its recovery, the matter of real estate market. A summary of our thoughts on the...
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IMF says turnaround impressive, boom-bust still possible
The International Monetary Fund (IMF) said Cyprus’s economy performed “an impressive turnaround” but remains vulnerable to shocks because of high debt levels and to a probable boom-bust resulting from...
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IMF expects Cyprus’ economic growth to plunge to 2.6% in 2018
The International Monetary Fund (IMF) said on Tuesday it expects the Cypriot economy’s growth to slow down to 2.6 per cent next year from 3.4 per cent in 2017. Consumer prices are expected to increase...
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Weak laws, payment culture to blame for high NPLs, officials say
Loan repayment culture in Cyprus is bad and the legislation in place is doing little to improve it even as it is threatening financial and macroeconomic stability, was the main conclusion of a recent...
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Europeans, IMF tell Trump to step back from trade war
Europe and the IMF urged Donald Trump on Wednesday to step back from the brink of a trade war, after the resignation of his top economic adviser emboldened those encouraging him to push ahead with...
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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 public finances and improve its...
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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 released on Wednesday by the Finance Ministry’s Public Debt...
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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 Monetary Fund...
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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 Fiscal Monitor published on Thursday....
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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 and implement reforms, the International...
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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 cent next year even as risks related to the high-stock of...
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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 by improving the current...
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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, the International Monetary Fund said on Friday....
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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 non-performing loans reduction, mindful of...
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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 debt overhang, the International Monetary Fund...
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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 (PPS) mission. Cyprus...
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