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Cyprus: Background Paper
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 1996: Issue 016
Language:
English
Publication Date:
15 Mar 1996
DOI:
https://doi.org/10.5089/9781451809787.002
ISBN:
9781451809787
ISSN:
1934-7685
Pages:
132
Keywords:
ISCR; CR; Cyprus pound; liquidity ratio; balance of payments; capital formation; real wage; bank liquidity; full employment; GDP deflator; market share; primary sector; long-term debt; Imports; Exports; Loans; Middle East; Europe
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This paper provides background information to the report for the 1995 Article IV Consultation with Cyprus. It reviews developments in the real, fiscal, monetary, and external sectors during the 1990s. The effects of wage indexation when the economy faces an adverse terms-of-trade shock in the context of the IMF staff’s medium-term projections are illustrated. The paper analyzes the fiscal effects of financial liberalization by estimating government revenues from financial repression and seignior age, and summarizes other countries’ experiences with financial liberalization and their implications for Cyprus.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund