European Commission – Directorate General Economic and Financial Affairs
Following a request by Cyprus on 25 June 2012, the European Commission (EC), the European Central Bank (ECB) and the International Monetary Fund (IMF) finally agreed an Economic Adjustment Programme with the Cypriot authorities on 2 April 2013.
The Programme aims to address the financial, fiscal and structural challenges facing the economy in a decisive manner and should allow Cyprus to return to a sustainable growth path. The Programme was agreed by the euro-area Member States on 24 April 2013 and by the IMF Board on 15 May 2013. It covers the period 2013-2016. The financial package will cover up to EUR 10 billion, including EUR 1 billion from the IMF This report provides background to the programme and builds on the documents agreed with the Cypriot authorities.
(European Economy. Occasional Papers. 149. May 2013.
Brussels. Paper and internet. )