Turkish finance minister Berat Albayrak said on Monday he held very productive meetings in Washington with international financial institutions, following the unveiling last week of Turkey's economic turnaround plan.[WASHINGTON] Turkish finance minister Berat Albayrak said on Monday he held very productive meetings in Washington with international financial institutions, following the unveiling last week of Turkey's economic turnaround plan.
Mr Albayrak has been in Washington since last Thursday, his first official visit to the US capital since he took charge of the economy last July. He held a series of investor meetings and attended International Monetary Fund and World Bank spring meetings. Turkey's economy experienced its worst quarterly contraction in nearly a decade after the currency crisis, which sent inflation soaring as high as 25 per cent and left companies and banks saddled with foreign-currency debt.
On Monday, Mr Albayrak said Turkey's banking system remained 'well-capitalised' and continued to offer credit. He said there would be complimentary policy actions after last week's reform program to boost growth potential.