Turkish finance min. rules out talks with IMF

Turkey’s Treasury and Finance Minister Berat Albayrak held a teleconference with around 6,100 international investors on Thursday.

“We are not in talks with the International Monetary Fund. We will continue to ensure funding from international markets,” a statement by his office quoted him telling the teleconference.

Albayrak said the government aimed at making Turkey an investment hub in the region.

“We are aware of recent fluctuations, challenges. We know our country’s potential. We will emerge stronger with steps we will take,” Albayrak said.

He said reducing inflation is Turkey’s main priority.

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“Monetary policy alone is not enough to fight inflation, we will back Central Bank with fiscal policies,” Albayrak added.

“We have no second thoughts on fiscal discipline, and the government will prioritize structural reforms,” he stated.

Albayrak said Turkey had always played by market rules, adding: “Capital controls have never been on our agenda and they will not be.”

Stressing that Turkish banking system is capable of managing the current volatility, Albayrak said the government will not hesitate to support the banking sector if such a need arises.

Albayrak also said the country will implement a “very serious” public saving policy.