Free Trial

EX-CBRT Officials Call for FX Reserve Inquiry; US Urges Action on "Democratic Backsliding"

TURKEY

LOCAL NEWS

  • Ex-CBRT officials call for inquiry into FX reserve losses in 2020 under Albayrak, estimated at $100bn in the first 10 months of the year until Agbal took over.
    • MHP member questions if the reserves were given to zombie industrial companies to stop them going bankrupt. Also calls for info on who signed off on key decisions. Comes following Erdogan & Elvan's defense of Albayrak's contributions that saw the lira stumble.
  • US Congress members urge Blinken to hold Turkey accountable for human rights violations and "democratic backsliding" in a second letter in the space of three weeks.
    • Notes Erdogan has moved to weaken the judiciary by installing political allies in key military & intelligence positions, oppressing opponents and cracking down on free speech .
    • Comes as Turkey is due to release its Human Rights reforms package today at 1030GMT.
  • Defense Min Akar accuses Greece of trying to affect Turkey's relations with the EU & US, by turking bilateral issues into broader ones. Says Turkey will defend its rights to the Blue Homeland, as well as in Cyprus.
  • Greece highlights continued exploration of the Cesme in the Aegean and Turkish fighter jets' unauthorised flights over Greek islets last week as inflammatory.
    • Next round of talks will resume after Ankara's naval exercises to 05 March are completed
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.