Sun, 2020-08-09 00:30
ISTANBUL: Despite the Turkish lira hitting a record low against the dollar and euro, Ankara has so far resisted asking for help from the International Monetary Fund (IMF).
Instead, it hopes to survive a looming balance of payments crunch without any foreign support beyond an extended swap deal with its regional ally Qatar.
In late May, Turkey tripled its existing local currency swap deal with Qatar to $15 billion as a remedy to its depleted foreign reserves.
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