techkenyot.com
techkenyot.com September 21, 2018


Erdogan says USA set deadline for pastor's release

13 August 2018, 08:45 | Glen Norman

Trump said on Twitter.

No body, no state and no credit rating agency can threaten Turkey and Turkish people, he added.

The lira is now down around 45% against the dollar since the start of the year, making it far harder for Turkish companies to pay back loans they have taken out in the U.S. currency.

Turkey has drafted an action plan and its institutions will start taking necessary steps on Monday morning to ease financial markets' concerns, Finance Minister Berat Albayrak said, after the lira plunged last week.

On Sunday, speaking to supporters in Trabzon on the Black Sea coast, Erdogan dismissed suggestions that Turkey was in a financial crisis like those seen in Asia two decades ago.

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The two North Atlantic Treaty Organization (NATO) allies have been at odds over a wide range of issues: diverging interests in Syria, Ankara's ambition to buy Russian defence systems and more recently the case of Andrew Brunson, an evangelical pastor on trial in Turkey.

In an interview with Hurriyet newspaper published online, Albayrak described the lira's weakness as "an attack", echoing President Tayyip Erdogan - who is his father-in-law - but he said Turkey's action plan was ready.

'We are once again facing a political, underhand plot.

US President Donald Trump said Friday he had doubled steel and aluminium tariffs on Turkey, which pushed the Turkish lira to new historic lows against the dollar.

"We will give our answer, by shifting to new markets, new partnerships and new alliances, to the one who waged an economic war against the entire world and also included our country", he said. Even if Washington and Ankara can resolve their immediate problems - such as the recent arrest of USA citizens in Turkey - the numerous, and multiplying, issues on which Turkey and the United States now disagree could be their relationship's undoing. With God's permission we will overcome this'.

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"We will not surrender", Erdogan asserted.

Turkey and the USA are now experiencing rocky relations following Washington's imposition of sanctions on Interior Minister Suleyman Soylu and Justice Minister Abdulhamit Gul for not releasing American Pastor Andrew Brunson, who faces terrorism charges in Turkey.

He also branded interest rates as a "tool of exploitation" which should be kept as low as possible.

The announcement accelerated the sell-off of Turkey's lira currency, already battered by worries about President Tayyip Erdogan's influence over the central bank.

The nominally independent central bank has defied pressure over the last few weeks to hike interest rates in the face of high inflation and a collapsing currency.

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Erdogan also hit back at USA authorities for convicting Mehmet Hakan Atilla, 47, deputy director general of Turkish lender Halkbank on charges of helping Iran evade USA sanctions on billions of dollars of oil proceeds.



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