Quatar helps turkish lira Categories: MM-Bedrohung Timelines: N-Türkey

Turkey’s beleagured currency has bounced back from record lows after Qatar pledged to shore up the banking sector’s shaky finances with loans worth $15bn (£11.8bn).

A week after a diplomatic spat with the US sent the lira into a tailspin, the agreement with Qatar was calculated to help Turkey avoid having to ask the International Monetary Fund for emergency funding.

Officials in Ankara said the Qatari money would be “channeled into Turkey’s financial markets and banks”, with the implication that the investment would be enough to head off a banking collapse.