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Devalued Lira Hitting TRNC Economy

Devalued Lira Hitting TRNC Economy

August 03
08:53 2018

President Mustafa Akıncı and Prime Minister Tufan Erhürman held their regular weekly meeting on Thursday.

North Cyprus News - Jane Holl LuteThey discussed UNSG’s temporary adviser to the UN Jane Holl Lute’s visit to Cyprus and Donald Trump’s statement. Prime Minister Erhürman said that he was appraising the developments that had taken place after Lute’s visit to Cyprus.

When you look at press reports from South Cyprus, you can see that they will take place on the Cyprus issue after September. We considered how realistic expectations are with President Akıncı. Once we receive notes regarding Turkey’s meeting with Ms. Lute as well, we will then be able to discuss this issue in more detail. It’s too early to make any other evaluations”, said Erhürman.

The second topic that was discussed during the meeting was the critical devaluation of the Turkish Lira.

The PM said that it was not possible for the government to take any action that would prevent further loss value of the Turkish Lira and added that the devaluation of the TL also had a direct effect on the TRNC’s economy.

Erhürman also said that he had an appointment with Turkish officials to discuss what steps could be taken.

BRTK