Northern Cyprus May Go Bankrupt, Turkish Minister Tells Hurriyet
This article is for subscribers only.
The Turkish Cypriot administration could go bankrupt for not following protocols related to how Turkish aid should be spent, Hurriyet newspaper cited Turkey’s minister in charge of Cypriot affairs, Cemil Cicek, as saying.
Turkey paid 916 million liras ($576 million) in aid to the self-declared Turkish Republic of Northern Cyprus in 2010, of which 450 million liras went to close its budget deficit, the Istanbul-based newspaper cited Cicek as saying in an interview. Calls placed outside of regular office hours by Bloomberg News to the northern Cypriot Foreign Ministry in Nicosia and to the embassy in Ankara went unanswered.