Cyprus: Background Paper

International Monetary Fund

No 1996/016, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

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 (search for similar items in EconPapers)
Pages: 132
Date: 1996-03-15
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Persistent link: https://EconPapers.repec.org/RePEc:imf:imfscr:1996/016

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