Cyprus Needs Policies To Mitigate Short-term Risks: IMF

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Monday, the International Monetary Fund said Cyprus needs policies to mitigate short-term risks while ensuring medium-term sustainability.

After Article IV Consultation with Cyprus, the IMF Executive Board recommended the adoption of a medium-term budget framework and more effective management of public sector liabilities.

The international lender forecast Cyprus to grow 0.3% this year, slowing sharply from 3.6% growth recorded in 2008. A tepid but uncertain recovery is expected to start by the beginning of 2010.

Monday, the International Monetary Fund said Cyprus needs policies to mitigate short-term risks while ensuring medium-term sustainability. (Market News Provided by RTTNews)