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Cyprus News Agency: News in English (AM), 00-05-23
CONTENTS
[01] IMF - Cyprus economy - Report - Recommendations
1320:CYPPRESS:01
[01] IMF - Cyprus economy - Report - Recommendations
Nicosia, May 23 (CNA) - Dimitri Demekas, head of the International Monetary
Fund (IMF) team, which held talks with the government and the Cyprus
Central Bank, warned today that the Cyprus economy would face risks and the
island would have problems in its accession to the European Union (EU), if
the team's recommendations were not heeded for macroeconomic stability and
preparation for capital liberalisation.
At same time the IMF official said the Cyprus economy "is undoubtedly very
successful and has been for the past two or three decades", noting that the
"per capita income is already higher than many members of the EU and is
approaching the average of the EU".
CNA/RG/GP/2000
ENDS, CYPRUS NEWS AGENCY
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