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Cyprus PIO: News Update in English, 01-11-05

Cyprus Press and Information Office: News Updates in English Directory - Previous Article - Next Article

From: The Republic of Cyprus Press and Information Office Server at <http://www.pio.gov.cy/>

Monday, 5 November 2001


CONTENTS

  • [01] UN Cyprus Envoy stresses need to resume talks
  • [02] UN Security Council disappointed with Turkish Cypriot leader's intransigent stance
  • [03] Tunisia in favour of UN talks for the solution of the Cyprus problem
  • [04] Decisions on Monetary Policy


[01] UN Cyprus Envoy stresses need to resume talks

Arriving in Cyprus on 2 November 2001, the Secretary General's Special Advisor on Cyprus, Alvaro de Soto, told journalists at Larnaca airport that the purpose of his tour is consultations in furtherance of the Secretary General's good offices mission.

In response to a number of questions, Mr de Soto stressed the need to resume talks and to begin negotiations in earnest. He said he would consider itprogress "when negotiations are taking place between the leaders in order to put together a comprehensive settlement".

The Special Advisor also noted, "we continue our preparations in order to be useful to the two sides", adding, "if I am here it is because we have reason to hope that it is possible to make progress".

Later, Mr de Soto was received by the President of the Republic of Cyprus, Mr Glafkos Clerides whilst leater on he met with the Turkish Cypriot leader, Mr Rauf Denktash.

[02] UN Security Council disappointed with Turkish Cypriot leader's intransigent stance

In the document which circulated on 1 November 2001 by the UN Security Council, on the workings of the Security Council for the month of September, there was a reference on Cyprus related to the briefing made by the UN Special Advisor on Cyprus, Mr Alvaro de Soto, on 26 September, concerning the latest developments of the talks.

The Council noted its disappointment for the unjustifiable decision of the Turkish Cypriot side to refuse the UN Secretary General's invitation for the continuation of the talks aiming to resolve the Cyprus problem.

[03] Tunisia in favour of UN talks for the solution of the Cyprus problem

Dr Vasos Lyssarides, who is on a visit to Tunisia as Special Envoy of the President of the Republic of Cyprus, met on 3 November 2001 with Tunisia's Foreign Minister, Mr Habit Ben Yahia, to whom he conveyed a letter by President Clerides for the country's Prime Minister, Mr Mohamed Ghannouchi.

The Tunisian Foreign Minister stated that his country follows closely the developments of the Cyprus problem and that it has always kept a firm stance on the matter. In other words, Tunisia is in favour of the peaceful solution of the Cyprus problem through UN talks, he said.

Mr Ben Yahia referred also to the bilateral relations of Cyprus-Tunisia and expressed the wish for their further development, noting that Cyprus can become the bridge between the EU and Arab countries as well as between Mediterranean countries and the Middle East.

[04] Decisions on Monetary Policy

Cyprus' Central Bank Board of Directors made, on 2 November 2001, the following decisions with regard to the island's monetary policy:

- Central Bank's basic interest rate (Lombard) and the Overnight Deposit Facility were decreased to 5,5% and 2,5% respectively,

- Reference price for the annual rate of increase of the banking credits for the year 2001 remains at 11%.

The Board noted that international developments present signs of world recession and the internaitonal uncertainty is expected to influence negatively tourists arrivals in Cyprus, whilst the other sectors of the economy are also expected to be hit.

The Board, therefore, decided to decrease the basic interest rates as a precausion measure by 0.5%.


From the Republic of Cyprus Press and Information Office (PIO) Server at http://www.pio.gov.cy/


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