The administration in the north has borrowed a total of 18.95 billion Turkish lira since the start of the year to repay loan instalments falling due in the first five months of 2026, according to Turkish Cypriot daily Yeni Düzen.
Citing figures from the “central bank” on “government bonds”, the newspaper described the process as a “spiral of borrowing to cover loans”, adding that the UBP, DP and YDP “government” continues to increase what is already a record level of public debt.
According to the front-page report, the administration borrowed seven times between January and May 2026. The total value of outstanding domestic debt, calculated at current exchange rates, has reached approximately 28.98 billion Turkish lira.
The newspaper said the latest borrowing took place on Thursday, ahead of repayments due on Friday, although the amount had not yet been disclosed.
Of the total 28.9 billion Turkish lira debt, 56.38% is in Turkish lira, 25.28% in sterling, 11.10% in US dollars and 7.24% in euro. This means around 43.62% of the debt is denominated in foreign currency.
According to the report, debts falling due on Friday and on June 26 amount to 5.56 billion Turkish lira. A further 8.54 billion Turkish lira is due on July 17, while debts due on August 7 and August 28 total 6.71 billion Turkish lira.
Another 6.91 billion Turkish lira is due on September 4, while repayments due on September 18 and October 9 amount to 1.25 billion Turkish lira.
Source: CNA
