Moody's To Evaluate Cypriot Economy

by Lorys Charalambous, Tax-News.com, Cyprus

25 November 2002

International ratings agency, Moody's visited Cyprus last week as part of its regular evaluation of the Cypriot economy.

According to a government statement released on Friday, the Moody's delegation met with Finance Ministry officials, who 'briefed the delegation on the course of the Cypriot economy during 1997-2000, (putting) particular emphasis on the Government's pre-accession economic programme and the programme for fiscal reform.'

The government officials also assured the ratings agency that the Cypriot authorities are committed to achieving long-term economic stability on the Island.

Meanwhile, the Turkish-Cypriot silence on the UN's recently unveiled plans for reunification has caused some alarm, especially given the UN Secretary General, Kofi Annan's pleas for urgency on the issue.

The Greek-Cypriot government has already announced that the 137 page plan is acceptable as a basis for negotiation.

However, despite informal remarks from the unofficial leader of the Turkish Justice and Development Party, Recep Tayyip Erdogan to the effect that the UN blueprint is acceptable as a 'basis for talks', there has been no formal response from Turkish Cypriot leader, Rauf Denktash, who is currently in hospital in New York, suffering from heart problems.

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