Turkish swap line ambitions met with scepticism

Turkey flag adobe stock AS 230x150
By Ross Lancaster
20 Apr 2020

Market participants have dismissed the viability of Turkey extending its swap line arrangements with the US Federal Reserve this week to enhance the country's access to dollars. They also noted that little has happened to change their bearish outlook on the sovereign.

In an interview with Turkey’s Anadolou Agency published on Sunday, central bank governor Murat Uysal said that the Central Bank of the Republic of Turkey had kept a close dialogue going with other central banks about greater cooperation and new swap lines.

The Fed quickly rolled out swap ...

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