Cyprus : Selected Issues Paper.

Format:

Book

Government document

Author/Creator:

International Monetary Fund.

Series:

IMF Staff Country Reports; Country Report ; No. 2011/332

IMF Staff Country Reports

Language:

English

Subjects (All):

Banks and banking--Cyprus.

Banks and banking.

Pensions--Cyprus.

Pensions.

Fiscal policy--Cyprus.

Fiscal policy.

Physical Description:

1 online resource (55 p.)

Place of Publication:

Washington, D.C. : International Monetary Fund, 2011.

Language Note:

English

Summary:

The Selected Issues Paper focuses on Cyprus' banking sector vulnerabilities and its pension system. The most salient risks for the banking sector come from commercial banks domiciled in Cyprus. These banks have the strongest links with the local economy and are likely to experience further deterioration of their loan portfolios in both Greece and Cyprus. The paper reveals that, in 2011, Cypriot banks face capital needs estimated at €3.6 billion on a preliminary basis.

Contents:

Cover; Contents; I. Cyprus Banking Sector Vulnerabilities; A. Summary; B. Overview of the Banking System; C. Bank Solvency and Liquidity; D. Liquidity; II. The Cypriot Pension System: Issues and Reform Options; A. Introduction; B. Background; Tables; I. Cyprus Banking Sector Vulnerabilities; 1. Accounts of the Social Insurance Fund; 2. Current and Future contribution on Rates Based on Legislation; 3. GSIS and Public Sector Employee Schemes Compared; 4. Net Cost of Pension Schemes for Public Employees; C. Main Issues; 5. Projected Accounts of the Social Insurance Fund

6. Long-term Projections of the Social Insurance FundD. Reform Options; E. Conclusion; References; Appendix; Boxes; A1. Old Age Pension GSIS Formula; A2. Underlying Data Assumptions for Projections; Tables; A1. Actuarial Penalties for Early Retirement; A2. Life Expectancy at Age 65; A3. Pension Indexation Practices in National Pension Schemes; A4. Public Pension Contribution Rates and Gross Replacement Rates in the OECD 34; A5. Age of Mandatory Retirement in Civil Service Pension Schemes; A6. Pension Accrual Rates in Civil Service Schemes

A7. Method of Pension Indexation in Civil Servants Pension SchemesIII. Strengthening Public Financial Management and Managing Fiscal Risks; A. Background; B. Status of Reforms and Main Outstanding Issues; III. Strengthening Public Financial Management and Managing Fiscal Risks; 1. Outstanding Guarantees to Public and Other Organizations, 2010; 2. PPP Projects and Their Estimated Costs; C. Reform Options; D. Conclusion; References; IV. External Competitiveness; A. Introduction; B. Labor Market Indicators; Figures; IV. External Competitiveness; 1. Cyprus Labor Market in Regional Perspective

C. The Evolution of Service ExportsD. The Role of Relative Prices; IV. External Competitiveness; 1. Regression Results; 2. Regression Results with Interaction Terms; E. Other Aspects of competitiveness; F. Conclusion; Annex; References

Notes:

Description based upon print version of record.

Includes bibliographical references at the end of each chapters.

Description based on online resource; title from PDF title page (ebrary, viewed September 22, 2014).

ISBN:

9786613869470

9781463988838

1463988834

9781463964566

1463964560

9781283557023

1283557029

9781463946197

1463946198