Share the article
twitter-iconcopy-link-iconprint-icon
share-icon
Western EuropeMay 11 2020

Can Cyprus's economy recover from the coronavirus crisis?

Cyprus has suffered a litany of political and economic shocks over the past few decades, but always managed to rebound. Will Covid-19 be a challenge too far? Andrew MacDowall investigates.
Share the article
twitter-iconcopy-link-iconprint-icon
share-icon

The 1974 coup and Turkish invasion; the 1990-91 Gulf War; the Iraq War of the 2010s; a 2011 explosion at a power plant that cut half the country’s electricity supply; and the 2013 banking crisis that led to a €10bn bailout. Cyprus has weathered a lot of storms over the past five decades.

“Whenever I am tempted to write off the Cyprus economy because of an unexpected crisis, I am surprised on the upside,” says Fiona Mullen, director of Nicosia-based consultancy Sapienta Economics. 

To continue reading, join our community and benefit from

  • In-depth coverage across key markets
  • Comments from financial leaders and policymakers worldwide
  • Regional/country bank rankings and awards
Activate your free trial