Turkey's finance minister rules out plans to seek help from IMF amid currency crisis
- 6 years ago
Turkey's finance minister has ruled out any plans to seek help from the IMF amid the country's currency crisis.
Berat Albayrak addressed thousands of global investors in a conference call on Thursday, pledging to protect ailing local banks and cut public spending to prevent the country defaulting on its loans.
The minister was trying rebuff concerns that a damaging trade war with the U.S. would force him to seek a bailout from the IMF.
The lira gained some strength after the conference call, but is at risk of another fall over reports that Washington is planning further sanctions against Ankara.
Berat Albayrak addressed thousands of global investors in a conference call on Thursday, pledging to protect ailing local banks and cut public spending to prevent the country defaulting on its loans.
The minister was trying rebuff concerns that a damaging trade war with the U.S. would force him to seek a bailout from the IMF.
The lira gained some strength after the conference call, but is at risk of another fall over reports that Washington is planning further sanctions against Ankara.