People walk recently in Istanbul past a Turkish flag draping a mosque. Treasury and Finance Minister Berat Albayrak sought to calm investors’ jitters Thursday. ANKARA, Turkey — Turkey’s finance chief tried to reassure thousands of international investors on a conference call Thursday, in which he pledged 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 4 percent against the dollar, to about 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 said Turkey’s banks are “healthy and strong” and that implementing structural changes and maintaining 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 said. The lira had nose-dived in recent weeks, hitting a record low of 7.24 this week, as investors worried about fundamental economic problems in the country and… Read full this story
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