TRNC to Adopt New Turkish Financial Scheme

North Cyprus News - President Ersin Tatar
[President Ersin Tatar – File Photo]
The Currency Protected TL Time Deposit scheme introduced in Turkey to bolster the devalued lira will also be applied in North Cyprus, which also uses the Turkish lira, President Ersin Tatar said, Yeniduzen reported on Friday.

Tatar, who has just returned from his meeting in Turkey with Turkish President Erdoğan said:

After my meeting with President Recep Tayyip Erdoğan last night, after our request, regarding how to proceed, instructions have been given“. 

President Tatar said, “The important thing is the stance of the nation, its survival, the credibility of its political will and the confidence it gives so that the nation can look to the future with hope, with its past and history“. 

Turkey’s foresight and the new economic policy created under the leadership of President Recep Tayyip Erdoğan are more competitive, attracting more investment, producing more, closing the current account deficit, offering market confidence and a more predictable environment“, Tatar said. 

Referring to calls from some sectors to adopt the Euro as the Turkish Lira flounders, he said: “It is absolutely impossible for us to accept the opinions of some different circles that say ‘let’s switch to the euro immediately’ in fluctuating situations“.


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