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Erdogan Casts Doubt on Sweden Nato Bid

TURKEY
  • Regulations introduced along with macroprudential measures have led to transaction time and quantity restrictions for foreign currency purchases. These measures, implemented in-line with Central Bank regulation, has increased complexity across FX sales in the banking sector, Ekonomi report.
  • President Erdogan has stated that his government will not offer support for Sweden's bid to join NATO following a protest in Stockholm over the weekend that saw a Swedish activist burn a copy of the Quran outside the Turkish Embassy. Speaking on 23 Jan, Erdogan said “If you [Sweden] cannot show this respect, then sorry but you will not see any support from us on the NATO issue...Don’t expect such support from us."
  • Treasury & Finance Minister Nebati will speak today at 1100 GMT/1400 local time while President Erdogan speaks in Ankara at 1600 GMT/1900 local time.
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