Turkish Treasury and Finance Minister Mehmet Simsek vowed to build up currency reserves as the International Monetary Fund forecast slower growth and a narrower current-account deficit for 2024 as Turkey tightens its monetary policy.
“We will continue to accumulate international reserves as much as market conditions allow,” Simsek said in a message on X, formerly Twitter, late Friday after meeting investors in London.
Simsek sought to bolster confidence in Turkey’s economy and attract foreign capital through a series of meetings with global investors this week. The IMF welcomed Turkey’s policy shift in a coinciding statement late Friday.”—AA
