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North Cyprus cash flow gets worse
By STAFF REPORTER 02.DEC.08
Under the headline banner “350 million dollars are wanted”, the Turkish Cypriot daily Afrika newspaper reports that a group of Turkish Cypriot businessmen have met with the “ambassador” of Turkey in the occupied part of Nicosia, Turkekul Kurttekin, after “they were not able to make the Turkish State Minister Cemil Cicek realise the situation they are in”.
Officials from the Turkish Cypriot "Chamber of Commerce" informed Mr Kurttekin about their problems, claiming that $350million was urgently needed for Turkish Cypriots to overcome the economic crisis. They also claimed that the price they would pay would be "very high" in case this money was not secured.
The officials argued that the money is necessary for the rearrangement of the debts of the private sector and for financing businesses. They demanded $350million as credit which they insist they will pay back.
The group of Turkish Cypriot businessmen proposed that the money could be distributed through banks with an independent institution carrying out the audit work.
Mr Kurttekin promised to convey the demands to Ankara, but said time is needed before they are met.
Last week, the leader of the Turkish Cypriot administration Ferdi Sabit Soyer continued his contacts with the Turkish Minister "responsible for Cyprus", Cemil Cicek on the issue of Turkey’s financial aid to the breakaway regime.
A source in the Turkish Cypriot “government” has described the enclave's financial situation as “very desperate".
According to reports, Ankara is refusing to transfer more money to the occupied areas, after keeping it afloat for over 30 years.
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