Economy of Cyprus, by Wikipedia \/ CC BY SA 3.0<\/p>\n
#Economy_of_Cyprus Economy of Cyprus, by Wikipedia \/ CC BY SA 3.0 #Economy_of_Cyprus #European_Union_member_economies #Economies_of_Europe_by_country The economy of Cyprus is a high-income economy as classified by the World Bank, and was included by the International Monetary Fund in its list of advanced economies in 2001. Cyprus adopted the euro as its official currency on 1 January 2008, […]<\/p>\n","protected":false},"author":1,"featured_media":65651,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[5],"tags":[87,172166,1399,172167],"class_list":["post-65650","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-european","tag-cyprus","tag-economies-of-europe-by-country","tag-economy","tag-economy-of-cyprus","post_format-post-format-video"],"_links":{"self":[{"href":"https:\/\/immigranttravels.com\/index.php\/wp-json\/wp\/v2\/posts\/65650","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/immigranttravels.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/immigranttravels.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/immigranttravels.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/immigranttravels.com\/index.php\/wp-json\/wp\/v2\/comments?post=65650"}],"version-history":[{"count":0,"href":"https:\/\/immigranttravels.com\/index.php\/wp-json\/wp\/v2\/posts\/65650\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/immigranttravels.com\/index.php\/wp-json\/wp\/v2\/media\/65651"}],"wp:attachment":[{"href":"https:\/\/immigranttravels.com\/index.php\/wp-json\/wp\/v2\/media?parent=65650"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/immigranttravels.com\/index.php\/wp-json\/wp\/v2\/categories?post=65650"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/immigranttravels.com\/index.php\/wp-json\/wp\/v2\/tags?post=65650"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n#European_Union_member_economies
\n#Economies_of_Europe_by_country
\nThe economy of Cyprus is a high-income economy as classified by the World Bank, and was included by the International Monetary Fund in its list of advanced economies in 2001.
\nCyprus adopted the euro as its official currency on 1 January 2008, replacing the Cypriot pound at an irrevocable fixed exchange rate of CYP 0.
\n585274 per \u20ac1.
\nThe 2012\u20132013 Cypriot financial crisis, part of the wider European debt crisis, has dominated the country’s economic affairs in recent times.
\nIn March 2013, the Cypriot government reached an agreement with its eurozone partners to split the country’s second biggest bank, the Cyprus Popular Bank \uff08also known as Laiki Bank\uff09,
\ninto a “bad” bank which would be wound down over time and a “good” bank which would be absorbed by the larger Bank of Cyprus.
\nIn return for a \u20ac10 billion bailout from the European Commission, the European Central Bank and the International Monetary Fund, the Cypriot government would be required to impose a significant haircut on uninsured deposits.
\nInsured deposits of \u20ac100,000 or less would not be affected.
\nAfter a three-and-a-half-year recession, Cyprus returned to growth in the first quarter of 2015.
\nCyprus successfully concluded its three-year financial assistance programme at the end of March 2016, having borrowed a total of \u20ac6.
\n3 billion from the European Stability Mechanism and \u20ac1 billion from the IMF. The remaining \u20ac2.
\n7 billion of the ESM bailout was never dispensed, due to the Cypriot government’s better than expected finances over the course of the programme.
\nCharts showing the GDP of Cyprus.
\nExclusive economic zone between Israel and Cyprus as signed in Nicosia.
\nThe port of Limassol, the busiest in Cyprus.
\nA vineyard in the Troodos Mountains.
\nThe agricultural sector continues to employ a significant proportion of the labor force.
\nA graph of…
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