Economy of Northern Cyprus

Ahmet Erdi Ozturk, a professor of politics and international relations at London Metropolitan University, told BIRN that Erdogan urgently needs to revitalise relations with the West.

The Turkish Lira cheered Central Bank Governor Şahap Kavcıoğlu's announcement late on June 22 that the country was in talks to secure currency swap agreements with four countries and was close to a deal with two of them.

Kavcıoğlu's remarks came during a meeting with bank executives, according to media reports.

The Turkish Treasury borrowed around 8.36 billion Turkish liras ($1 billion) from domestic markets, according to an official statement on June 22. 

The Treasury and Finance Ministry announced that 3.35 billion Turkish liras ($400 million) in four-year fixed coupon rate government bonds were sold on Monday.

Turkey sent 50,000 additional doses of a coronavirus vaccine to the Turkish Republic of Northern Cyprus (TRNC) on June 21. 

A Health Ministry plane carrying the doses landed at Ercan International Airport in Lefkosa, where officials from the TRNC's Health Ministry received the shipment.

With the latest delivery, Turkey has provided the TRNC with 290,000 vaccine doses to date.

Turkish corporations have reduced their direct exposure to foreign exchange risks in the past few years, Fitch Ratings said in a statement on June 16. 

Turkey's banking sector posted a net profit of 20.7 billion Turkish liras ($2.52 billion) in the first four months of 2021, the country's banking watchdog said on June 3. 

Withholding tax support on Turkish lira bank deposits will continue for another two months until July 31, the Official Gazette said on June 1. 

The Turkish Treasury borrowed around 8.36 billion Turkish liras ($1 billion) from domestic markets, according to an official statement on May 24. 

The Treasury and Finance Ministry announced that 3.35 billion Turkish liras ($400 million) in four-year fixed coupon rate government bonds were sold on Monday.

Turkey and the Turkish Republic of Northern Cyprus (TRNC) signed two cooperation protocols on April 29 to meet the energy needs of the TRNC.

Turkey sent 40,000 more doses of a coronavirus vaccine early on April 20 to the Turkish Republic of Northern Cyprus (TRNC). 

A Turkish Health Ministry plane carrying the vaccine doses landed at Ercan International Airport in Lefkoşa, where officials of the TRNC's Health Ministry received the shipment.