Turkey held talks with US on possible Fed swap line

13 April 2020
142 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

Mitsotakis to Bild newspaper: “We will open tourism to countries with similar epidemiological data as Greece”
GREECE
shares26 views
GREECE
shares26 views

Mitsotakis to Bild newspaper: “We will open tourism to countries with similar epidemiological data as Greece”

makis - May 26, 2020

The safe comeback of tourism flows in Greece and economic recovery from the coronavirus pandemic were the focal point of…

5 Greek “Caribbean” beaches that are heaven on earth
GREECE
shares42 views
GREECE
shares42 views

5 Greek “Caribbean” beaches that are heaven on earth

Panos - May 26, 2020

The Caribbean may be famous for its crystal clear waters, but Greece can easily compare with its own exotic beaches…

German bookings on the rise as Greece opens up
GREECE
shares42 views
GREECE
shares42 views

German bookings on the rise as Greece opens up

Panos - May 26, 2020

A significant increase in bookings for Greece, the Balearic Islands and Portugal has been recorded recently by German travel companies,…

Leave a Comment

Your email address will not be published.