Crisis atlas / CYP

Cyprus

11 distinct crisis events in 3 episodes, 2000–2021, from the union of five primary chronologies.

Debt profile: government debt trajectory and crisis-start levels →

Banking crises

Currency crises

Sovereign debt crises

Crisis events

2000–2021

Span

Crisis timeline

Every distinct (year, type) event, most recent first, with the chronologies flagging it. Start-year sources (GMD, JST) do not mark continuation years, so long episodes show lower agreement after their first year.

2021
Bankingesrb1 source
2020
Bankingesrb1 source
2016
Bankingesrb1 source
2015
Bankingesrb, laeven_valencia2 sources
2014
Bankingesrb, laeven_valencia2 sources
2013
Sovereign debtgmd, laeven_valencia2 sources
Bankingesrb, laeven_valencia2 sources
2012
Bankingesrb, laeven_valencia2 sources
2011
Bankingesrb, gmd, laeven_valencia3 sources
2001
Bankingesrb1 source
2000
Bankingesrb1 source

Source: Global Macro Database 2026_06 (Müller, Xu, Lehbib & Chen 2025) | Jordà-Schularick-Taylor Macrohistory R6 | Laeven & Valencia (2020) | Reinhart-Rogoff via HBS BFFS | ECB/ESRB Financial Crises Database Methodology

Macro context around each episode

Inflation, central-bank policy rate, and government debt in a window of five years either side of each crisis episode (consecutive crisis years bridged across gaps of up to two years). Crisis years shaded.

2000–2001

Banking

Inflation (% y/y)

Policy rate (%)

Govt debt (% of GDP)

2011–2016

BankingSovereign debtFiscal cost 18.0% of GDP, output loss 59.3% of GDP (Laeven-Valencia 2026)

Inflation (% y/y)

Policy rate (%)

Govt debt (% of GDP)

2020–2021

Banking

Inflation (% y/y)

Policy rate (%)

Govt debt (% of GDP)

Source: Global Macro Database 2026_06 (Müller, Xu, Lehbib & Chen 2025) Inflation is % year over year; policy rate is the central-bank rate in %; government debt is % of GDP. Methodology