Turkey bids for time with boosted swap line

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By Ross Lancaster
20 May 2020

After a week of speculation over which central banks would provide Turkey with a currency swap line, its central bank has announced an increase to an existing arrangement.

On Wednesday, Turkey said it had increased its swap line with the Qatar Central Bank from $5bn-equivalent of Turkish lira and Qatari riyals to up to $15bn-equivalent. But after weeks of depreciation, analysts do not see the agreement as a turning point for Turkey.

“What Turkey needs is hard ...

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