It is very fitting for us to be here today. The Boao Forum for Asia is hosted by the home of Mulantou Lighthouse, the tallest in China, a beacon of light guiding ships to safe harbor — an inspiration for our discussions so they can guide global policymakers navigating very challenging times.

1. Cyprus’s economy has proved resilient to the fallout from Russia’s invasion of Ukraine, but surging energy prices pushed up inflation. Output grew by 5.6 percent in 2022 as consumption recovered on the back of post-COVID pent-up demand, tourist arrivals rebounded (despite the impact of the war on arrivals from Russia and Ukraine), and the ICT sector continued expanding supported by an influx of new companies. Employment has recovered to pre-COVID levels and unemployment has dropped to a post-financial-crisis low. However, high energy prices contributed to a pickup of inflation, transmitting to other prices amid the tight labor market.

Country Report No. 2023/128

Country Report No. 2023/127

IMF Executive Board Concludes 2023 Article IV Consultation with Japan

The European Investment Bank (EIB) recently attended the Vienna Initiative Full Forum, which took place from 22 to 24 March 2023 in Skopje. Participants discussed the key challenges for the banking sector in Central, Eastern and South-Eastern Europe, including the changing economic environment and the implications of climate change and digitalisation for the financial system.

One World Media announced today the longlist of selected stories for all its 15 award categories, including the Women’s solutions reporting award, sponsored by the European Investment Bank and Plan International.