Turk­ish in­fla­tion.

Kathimerini English - - Focus -

the way for sup­port. “Should the ref­er­en­dum [on a Cyprus deal] be pos­i­tive then we will cer­tainly aim to in­crease our in­vest­ment, par­tic­u­larly in the north,” EBRD Pres­i­dent Suma Chakrabarti told Reuters. That would open up the de­bate of whether the de­vel­op­ment bank would con­tinue to in­vest in Cyprus be­yond 2020, the dead­line set when it be­came a “tem­po­rary” re­cip­i­ent of EBRD sup­port in 2014. “It’s un­doubt­edly true that the north is very much un­der­de­vel­oped com­pared with the south and will re­quire years of in­vest­ment to catch up,” Chakrabarti said. “So we’ll have to see if Cyprus makes the case for an ex­ten­sion of man­date and how the share­hold­ers will re­act.” The EBRD holds its an­nual meet­ing in Cyprus in May so the sit­u­a­tion is likely to be one of the main top­ics of dis­cus­sion among the na­tional fi­nance min­is­ters and cen­tral bankers that dou­ble as its de­ci­sion-mak­ers.

Turkey’s de­ci­sion to change the weight­ing of sea­sonal prod­ucts in its in­fla­tion bas­ket will cut fluc­tu­a­tions in the con­sumer price in­dex by 10 per­cent, the act­ing head of the Turk­ish Sta­tis­ti­cal In­sti­tute said yes­ter­day. Mehmet Ak­tas made the com­ment at a news con­fer­ence in Ankara.

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