The Economic Adjustment Programme for Cyprus – Fourth Review – Spring 2014

Abstract:
Following a request by Cyprus on 25 June 2012, the European Commission, the European Central Bank and the International Monetary Fund finally agreed an economic adjustment programme with the Cypriot authorities on 2 April 2013.

The programme aims to address the financial, fiscal and structural challenges facing the economy in a decisive manner and should allow Cyprus to return to a sustainable growth path. The programme was agreed by the euro area Member States on 24 April 2013 and by the IMF Board on 15 May 2013. It covers the period 2013-2016. The financial package covers up to EUR 10 bn: EUR 9 bn from the ESM and EUR 1 bn from the IMF. This report assesses compliance with the terms and conditions set out in the programme with the Cypriot authorities.

• Primary Source

European Commission: DG Economical and Financial Affairs: European Economy: Occasional Paper No. 197, June 2014: The Economic Adjustment Programme for Cyprus – Fourth Review - Spring 2014 http://ec.europa.eu/economy_finance/publications/occasional_paper/2014/op197_en.htm

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