TRNC Ministry of Finance to Raise Another 5.2 Billion Lira in Domestic Borrowing

The Central Bank of the TRNC has announced four new auctions of government securities to raise funds for the Ministry of Finance.

The auctions will be held on 27 August 2026. The total volume of new borrowing, converted into Turkish lira, exceeds 5.22 billion lira.

The auctions are planned to raise:

• 4.3 billion lira;
• 8 million dollars — 385.2 million lira;
• 6 million euros — 337.8 million lira;
• 3 million pounds sterling — 197.1 million lira.

In January, April and July, the TRNC Council of Ministers approved borrowing decisions of 6 billion lira each time — a total of 18 billion lira under the 2026 budget. Following the new borrowing, this amount has almost tripled.

After the 35th and 36th government securities auctions held on 6 August, the total volume of domestic borrowing exceeded 49 billion lira.

In addition to financing the budget, the Ministry of Finance has repeatedly raised funds for TÜK, the Eastern Mediterranean University and Cypfruvex. There have been around 20 such borrowings in total. The latest, worth more than 1 million dollars, was raised for Cypfruvex on 19 August.

According to the Central Bank of the TRNC, on 28 August the Ministry of Finance is due to repay 5 billion 164.476 million lira in debt.

Of this amount, around 3.765 billion lira relates to obligations in Turkish lira, while 1.399 billion lira represents foreign-currency debt obligations.