Turkish finance chief tries to reassure investors on crisis

Turkey’s finance chief tries to reassure thousands of international investors on a conference call today, in which he pledges to fix the economic troubles that have seen the country spiral into a currency crisis.

The national currency recovered somewhat from record lows hit earlier this week, a day after Qatar pledged $15 billion in investments to help Turkey’s economy. The lira strengthened some 4 percent against the dollar, to around 5.75 per dollar.

Treasury and Finance Minister Berat Albayrak was quoted by private media NTV as saying the economy would emerge stronger from the turmoil.

Albayrak says Turkey’s banks are “healthy and strong” and that implementing structural reforms and maintain tight monetary policy to fight inflation remain a priority. The minister ruled out any move to limit money flows — which is a possibility that worries investors — or any assistance from the International Monetary Fund, NTV says.

— AP