This paper discusses Cyprus' Second Review Under the Extended Arrangement Under the Extended Fund Facility and Request for Modification of Performance Criteria. The program is on track. Fiscal performance continued to exceed targets comfortably, and the 2014 budget is more ambitious than...

Cyprus's Third Review Under the Extended Arrangement Under the Extended Fund Facility focuses on strong ownership and implementation of its program. Despite the difficult environment in which the authorities operate, the political commitment remains strong while every effort is being made to...