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Article: IMF publishes report on Cyprus financial system.
- Article from:
- Financial Mirror (Cyprus)
- Article date:
- November 11, 2009
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The International Monetary Fund (IMF) has published a positive assessment report on the stability of the Cyprus financial system, pointing out at the same time that "challenges remain".
According to an official announcement, the report followed the visit of the IMF mission team to Cyprus during the period September-October 2008, on the basis of the Financial Sector Assessment Program (FSAP), as well as the visit of the IMF mission team in June 2009.
According to the assessment the banking system of Cyprus has managed to avoid the worst effects of the global financial crisis and banks' liquidity situation remains comfortable thanks to their reliance on ...