01715cas a2200241 a 4500 AALejournalIMF013563 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484365243 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. European Dept. Cyprus : Request for an Arrangement Under the Extended Fund Facility. Washington, D.C. : International Monetary Fund, 2013. 1 online resource (129 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Cyprus experienced significant internal and external imbalances owing to the European financial crisis. The oversized and weak banking sector continued to be a threat to the sovereign. Greek debt restructuring, together with loan losses of both Cyprus and Greece, resulted in the two largest banks being declared insolvent. However, the authorities have taken unprecedented steps to address the country's banking problems. Temporary administrative controls have been taken to preserve financial stability, while the Extended Fund Facility (EFF) arrangement has been aimed to stabilize the financial system and achieve fiscal sustainability. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2013/125 Full text available on IMF http://elibrary.imf.org/view/journals/002/2013/125/002.2013.issue-125-en.xml IMF e-Library