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link : Turkey Seeking Help To Avert A Financial Crisis
Turkey Seeking Help To Avert A Financial Crisis
Reuters: Exclusive: Turkey seeks global funding help to gird against lira shock
ANKARA (Reuters) - Turkey’s government has appealed to foreign allies in an urgent search for funding, three senior Turkish officials said, as it prepares defences against what analysts fear could be a second currency crisis in as many years.
Treasury and central bank officials have held bilateral talks in recent
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days with counterparts from Japan and the United Kingdom on setting up currency swap lines, and with Qatar and China on expanding existing facilities, the officials said.
Cevdet Yilmaz, the ruling AK Party’s deputy chairman for foreign affairs, confirmed on Thursday that Turkey was seeking swap agreements.
“We are having negotiations with different central banks for swap opportunities,” he told a panel discussion, adding: “It is not only the U.S., there are also other countries.”
He did not give further details.
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WNU Editor: Blaming others for your mistakes while asking for help is not what I would call a smart strategy .... Turkey blames 'foreign powers' for fresh currency woes (DW).
Cevdet Yilmaz, the ruling AK Party’s deputy chairman for foreign affairs, confirmed on Thursday that Turkey was seeking swap agreements.
“We are having negotiations with different central banks for swap opportunities,” he told a panel discussion, adding: “It is not only the U.S., there are also other countries.”
He did not give further details.
Read more ....
WNU Editor: Blaming others for your mistakes while asking for help is not what I would call a smart strategy .... Turkey blames 'foreign powers' for fresh currency woes (DW).
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