Why is Turkey asking for help from allies? - news

Wednesday, May 20, 2020

Why is Turkey asking for help from allies? - news

  • ANKARA Ankara has called on its international allies to help stabilize the falling value of the Turkish lira and overcome the current economic crisis.

  • According to Al Arabiya, three senior Turkish officials say the Ankara government fears that the economic crisis could lead to a further devaluation of the Turkish lira, so it is trying to raise funds from its allies.

  • He said that officials from the Turkish Ministry of Finance and the Central Bank have recently held talks with their Japanese and British counterparts on increasing the facilities provided to Turkey by Qatar and China. Judith Yilmaz, vice president of the ruling AK Party, confirmed on Thursday that Turkey wants currency exchange agreements.

  • We are in talks with not only the United States but also other global allies on currency exchange opportunities, he told the panel. However, he did not elaborate.

  • A Turkish official told Reuters that Turkey was satisfied with the talks, but it was unclear how long the agreements could be finalized.

  • The development comes after the Turkish lira hit a record low last week.


OTG Newz