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Defense Min Criticises US Support for PKK; IIF Revises USD/TRY Fair Value to 9.5

TURKEY

LOCAL NEWS

  • Defense Minister Akar criticises US support for PKK during a visit with Turkish troops in Iraq. "unfortunately, some countries that we know as friends gave missiles to the PKK.
    • Therefore, each of them is a great danger, a great risk for us"
  • Covid cases have more than halved since the peak at 60k/day mid-April, reaching 25,980/day.
    • However, daily testing has also declined by 25% to 240,145/day according to health Ministry data vs two weeks ago
  • Senior Turkish diplomat says covid measures shouldn't hinder Turkey-EU ties, urging the EU not to take discriminatory policies (vaccine passports) against Turkey.
    • Notes "passports" could contradict Turkey's status as a candidate member and the Turkey-EU customs union
  • AKP Spox Celik slams EU, saying if it "agrees to become a plaything for the Greek Cypriot administration, (with regard the two-state solution in Cyprus) good luck to them."
    • Says there will be no negotiations with a approach that ignores Turkish Cypriots
  • Institute for International Finance revises is fair value estimate for USD/TRY to 9.5, with Chief Economist Robin Brooks citing a sharp deterioration on confidence since Erdogan sacked ex-CBRT Governor Agbal
  • HealthMin says Turkey will start vaccinating the entire adult population in summer and complete <40s by end June. Turkey has signed contracts for 240m doses:
    • 100m sinovac – due to resume shipments in May, 90m BioNtech doses (30m delivered in June), 50m Sputnik v delivered over the next 6-months
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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