Title Cyprus : 2010 Article IV consultation : staff report, staff statement, public information notice on the Executive Board discussion, and statement by the Executive Director for Cyprus / prepared by the staff representatives for the 2010 consultation with Cyprus, in consultation with other departments

Published Washington, D.C. : International Monetary Fund, ©2010

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Description 1 online resource (53 pages) Series IMF country report ; no. 10/291 IMF country report ; no. 10/291. Summary 1. Cyprus is being affected by the global crisis with a lag, as it entered into recession in early-2009, about a year after the euro area as a whole. In the wake of euro adoption in early 2008, domestic consumption remained strong, buttressed by buoyant credit growth-mainly channeled to a booming real estate market-and a relaxation in the fiscal stance (Box 1). The banking sector weathered the financial turmoil relatively unscathed due to limited exposure to complex securitized products, but as trade partners became increasingly affected by the global slowdown, the tourism and construction sectors contracted sharply. As a consequence, Cyprus entered a shallow recession in early 2009, just as the euro area as a whole was bottoming out (Figure 1) Notes Online resource; title from PDF title page (IMF Web site, viewed May 26, 2011) Subject International Monetary Fund -- Cyprus SUBJECT International Monetary Fund fast Subject Economic indicators -- Cyprus Economic history Economic indicators Economic policy SUBJECT Cyprus -- Economic conditions Cyprus -- Economic policy Subject Cyprus Form Electronic book Author International Monetary Fund, issuing body. ISBN 1283571048 9781283571043 9781455206414 1455206415 9781455291939 1455291935

Other Titles Cyprus, 2010 Article IV consultation

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