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Thursday, April 25, 2019

Turkey Gives Banks $3.7 Billion Lending Boost to Spur Growth - Bloomberg

Turkey Gives Banks $3.7 Billion Lending Boost to Spur Growth
By Ercan Ersoy
April 25, 2019, 4:37 AM EDT Updated on April 25, 2019, 7:11 AM EDT

Sovereign wealth fund buys debt issued by government lenders
President Erdogan is seeking to rekindle growth with credit

Turkey’s sovereign wealth fund bolstered the capital ratios of five state-owned banks by 3.3 billion euros ($3.7 billion) in a bid to keep credit flowing in the recession-hit economy.

More:Turkey Gives Banks $3.7 Billion Lending Boost to Spur Growth - Bloomberg