Turkish Finance Minister tells investors in London high inflation is temporary

Finance Minister Nureddin Nebati on Feb. 8 pitched Turkey's unorthodox economic policy to investors in London, pledging to keep the exchange rate stable, bring inflation down to single digits and keep dollarization at bay.

Wednesday February 09 2022 09:56 am

Reuters

Turkish Finance Minister Nureddin Nebati told investors in London that Turkey's high inflation was temporary while providing them with "comprehensive information" about the country's economic model, his ministry said on Feb. 9.

Nebati held two days of talks in London and pitched Ankara's unorthodox economic policy to investors, as Turkey grapples with soaring inflation after the lira currency lost 44% of its value last year.

In a statement, the Finance Ministry said Nebati held talks with some 100 senior officials, as well as representatives from dozens of banks, firms, and funds, and added they had exchanged views on the outlook for the Turkish economy and beyond.

Nebati emphasised that Turkey "is a developing star country with significant potential" in its region and globally, and that it had a dynamic production capacity, strong growth performance, healthy public finances and a solid banking sector, it said.