Turkey held talks with US on possible Fed swap line

13 April 2020
460 Views

Turkey has held talks with the United States about possibly securing a swap line from the U.S. Federal Reserve and has discussed other funding options to mitigate fallout from the coronavirus outbreak, Turkish officials said on Friday.

While Ankara is keen to secure funding from the U.S. central bank if possible, the officials said Turkey was not considering pursuing a deal with the IMF, given what they described as negative domestic perceptions of working with the Fund.

It was unclear whether any progress had been made towards a deal. Turkey’s Treasury Ministry was not immediately available to comment, nor was a spokesman for the U.S. Treasury. The Fed did not immediately comment.

Analysts have raised concerns that a draw-down in foreign reserves could hamper Turkey’s response to the pandemic, increasing the need for external funding. The measures taken to halt the spread of the COVID-19 disease are expected to tip its economy into its second recession in less than two years.

Source: reuters

You may be interested

The first Aegean Hawk S-70 helicopter was delivered to the Hellenic Navy by Aeroservices
GREECE
shares15 views
GREECE
shares15 views

The first Aegean Hawk S-70 helicopter was delivered to the Hellenic Navy by Aeroservices

Panos - May 07, 2021

The first upgraded Aegean Hawk S-70 helicopter was delivered to the Hellenic Navy today, Thursday 6 May. The work on…

Foreigners looking to buy Greek property amid Covid-19 pandemic
FINANCE
shares26 views
FINANCE
shares26 views

Foreigners looking to buy Greek property amid Covid-19 pandemic

Panos - May 07, 2021

Despite the pandemic, the demand for a permanent holiday home in selected destinations in Greece by foreigners is on the…

Greek Taxisnet services not available for citizens over weekend
FINANCE
shares19 views
FINANCE
shares19 views

Greek Taxisnet services not available for citizens over weekend

Panos - May 07, 2021

Online services on the Taxisnet platform system will not be available to taxpayers over the weekend due to scheduled upgrading.…

Leave a Comment

Your email address will not be published.