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‘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 with reforms are absolutely correct and...
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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 court cases, a hard Brexit, and weaker...
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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 per cent. For 2020, the IMF expects the economy to...
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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 strong, is...
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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 Brexit, an EU source told Reuters on Wednesday,...
View ArticleAddressing inefficiencies in justice system ‘key to improving business...
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 Friday at the conclusion of the...
View ArticleOpposition 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 on Thursday....
View ArticleIMF 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 told the Cyprus News Agency. “What we see...
View ArticleIMF 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 its World Economic Outlook (WEO),...
View ArticleIMF 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 softer industrial production. In its World...
View ArticleCyprus 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 Management Office (PDMO) has said. In...
View ArticleHigh 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 most part since 2013, and keeping up the...
View ArticleCyprus 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 crisis legacies, given the...
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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 Covid-19 pandemic, the International Monetary Fund (IMF) has...
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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 International Monetary Fund said, and she stressed the...
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IMF starts discussions in Ukraine for next tranche disbursement
The mission of the International Monetary Fund is starting its work in Ukraine for the second review of the Fund-supported programme, the global lender said on Wednesday. Ukraine hopes that the...
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IMF warns Russia sanctions threaten to chip away at dollar dominance
Financial sanctions imposed on Russia threaten to gradually dilute the dominance of the US dollar and could result in a more fragmented international monetary system, Gita Gopinath, IMF’s First Deputy...
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Cyprus growth to slow sharply, IMF says
Economic growth in Cyprus will slow sharply before recovering, due to the shock associated with the war in Ukraine, the International Monetary Fund (IMF) has said, adding that the key near-term...
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Sri Lanka’s reluctance to tap IMF helped push it into an economic abyss
Sri Lanka’s worst economic crisis has triggered an unprecedented wave of spontaneous protests as the island nation of 22 million people struggles with prolonged power cuts and a shortage of essentials,...
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Standoff with Lebanon banks could derail IMF deal, minister says
Lebanon’s efforts to secure $3 billion in International Monetary Fund support to help it tackle its financial crisis could be derailed by divisions over how to deal with massive financial sector...
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