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Low productivity and high private debt, as external risks increase, are the main challenges for Cypriot economy, as described in a report by the International Monetary Fund (IMF) Executive Board, following the conclusion of the consultation of the Article IV with Cyprus. The IMF Executive Board welcomed the strong economic recovery and declining unemployment rate, and commended the authorities for the good progress in addressing banking sector vulnerabilities and improving macroeconomic fundamentals. The IMF pointed out that productivity growth has been weak, …
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