President Nicos Anastasiades and Turkish Cypriot leader Mustafa Akinci are set to open up talks on the economic aspects of a possible Cyprus settlement in their planned meeting on Tuesday morning.
The two leaders are set to meet at 10am to discuss the financial aspects of a possible solution between the two communities on the island. Reports by both the International Monetary Fund (IMF) and the World Bank are expected by late September, early October.
Both bodies predict a period of GDP growth for a united Cyprus with the new economic model of the island potentially able to make significant headway in industries that include energy, tourism and shipping.
But the IMF and World Bank did say that sacrifices would need to be made on both sides especially on issues such as VAT and other levies.
The Turkish Cypriot side’s economy is only sustained by funds pumped into the community by Turkey.
Anastasiades and Akinci are expected to go over details that had been previously ironed out by chief negotiators Andreas Mavrogiannis and Ozdil Nami.
The two men had also met on Monday and will continue to meet frequently until the end of the month.