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Cyprus News Agency: News in English, 06-11-06

Cyprus News Agency: News in English Directory - Previous Article - Next Article

From: The Cyprus News Agency at <>


  • [02] IMF - CYPRUS


    Two French journalists, kidnapped and detained yesterday by the so-called Turkish Cypriot military authorities in the Turkish occupied north of Cyprus, are due to appear before a "military court" today.

    They were arrested for allegedly violating a military restricted area.

    Journalist David Muntaner and Cameraman Frederic Bak, who are working for the Franco-German TV channel ARTE, were arrested for filming the closed town of Varosha from the area of Palm Beach Hotel.

    President of the Turkish Cypriot press union, Basin-Sen, Kemla Darbaz condemned the arrest and announced that the two journalists had filmed many places between 4-6 November with the permission of the illegal regime.

    In a statement, Basin-Sen said journalists once again became the victim of outworn law codes and its practitioner.

    Police forces, persistently carry out detentions based on law codes of 1976-79s, embarrassing the Turkish Cypriots, Basin Sen further noted.

    [02] IMF - CYPRUS

    The International Monetary Fund (IMF) supports the Cypriot authorities target to adopt the euro on January 1, 2008.

    The statement was made at the end of the preliminary conclusions of an IMF mission visit to Cyprus, which underlined that robust economic activity has been safeguarded by prudent economic policies, with the reduction in the fiscal deficit laying the foundation for a flourishing Cypriot economy.

    However, safeguarding the economy against adverse shocks and taking full advantage of the opportunities available to Cyprus will require continued efforts to address short term risks and medium term pressures, the conclusions noted.

    Highlighting four issues that the Cypriot economy faces, Alexander W. Hoffmaister, assistant to the Director and Mission Chief said that Cyprus is well placed to benefit from adopting the euro since it is Cypruss largest trading partner, and trade linkages with the euro area are to strengthen further the introduction of the euro.

    He said that the targeted adoption date implies that Cyprus would be evaluated against the Maastricht criteria sometime in the first half of 2007 with the exchange rate locked in at a rate determined in consultation with the European Council.

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