Turkey Wants international Cooperation against US Sanctions. Countries that are affected by US sanctions must align forces and come up with coordinated actions, according to the Turkish Minister of Finance Berat Albayrak.
The minister makes his statement Thursday during a conference call with investors, in which he further elaborated on the current lira crisis.
The US recently raised import tariffs on aluminium and steel from Turkey.
It occurred partly because of the argument about the American preacher Andrew Brunson who is trapped in Turkey.
Both countries are also warning boycotts.
The Turkish lira is also in a severe crisis. At the start of this year, you got another 5.06 lira for 1 pound.
In the meantime, 1 pounds is worth more than 7.44 lira.
Albayrak states the crisis is due to a “market deviation”.
The country has no intentions to go to the International Monetary Fund (IMF) for support,
and will necessarily try to spend less and attract more foreign investors, according to the minister.
The minister also stated that he is convinced that Turkey will emerge stronger from the lira crisis.
According to him, the banks are healthy and robust, but the government will be ready to assist if the institutions need it.