Prime Minister Tufan Erhürman and the Chairman of the TRNC Central Bank Rifat Güney held a press conference on Monday morning before today’s extraordinary cabinet meeting to discuss possible measures to minimize the impact on the country caused by the sharp fall in the value of the Turkish Lira.
The Prime Minister told reporters that a series of measures in the form of delegated legislation or statutory decrees will be introduced later this week.
Pointing out that the Council of Ministers will be discussing possible measures aimed at preserving the public’s purchasing power and preventing the shrinking of the market, Erhürman said “We shall also be deciding on whether or not to convene parliament. However the measures will most likely be in the form of statutory decrees or delegated legislation”.
Also speaking, the Chairman of the TRNC Central Bank Rifat Güney said that all the banks operating in the Turkish Republic of Northern Cyprus were standing strong and that there were no problems.
He said that the banks were currently operating without any restrictions or limitations.
Güney also gave the reassurance that should the need arise, the Central Bank will be giving all the support the banks might require or need.