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Post-Programme Surveillance Report - Cyprus, Spring 2019

This report presents the findings of the sixth post-programme surveillance (PPS) mission of European Commission staff, in liaison with staff from the European Central Bank (ECB), which took place in Cyprus from 18 to 22 March 2019. The mission was coordinated with the International Monetary Fund’s (IMF) Post-Program Monitoring (PPM) mission. Staff from the European Stability Mechanism (ESM) also participated in the mission on aspects related to the ESM's Early Warning System. The next PPS mission will take place in autumn 2019. While the Cypriot economy continued to grow strongly in 2018, external headwinds are increasing and significant domestic vulnerabilities remain.[…]