IMF sees Turkish markets calming after Central Bank adds liquidity
WASHINGTON - Reuters
AFP photoThe International Monetary Fund expects volatility in Turkey’s financial markets to calm after the country’s Central Bank added liquidity to the financial system in the wake of last weekend’s coup attempt, IMF chief economist Maury Obstfeld said on July 19.
Obstfeld told a news briefing it was important that Turkey preserve the democratic institutions that have been key to its strong economic growth in recent decades.
“We are seeing some volatility in financial markets” following the coup attempt, Obstfeld said.
“The Turkish authorities, particularly the Central Bank, have stepped in very effectively to provide liquidity, and we would anticipate in our baseline that things will settle down, and that will require continued vigilance by the Turkish authorities.”