Qatar pledges $15 billion to invest in Turkey

Qatar pledges $15 billion to invest in Turkey

Qatar pledges $15 billion to invest in Turkey

On Aug. 10, President Donald Trump ramped up his attack on Turkey by doubling US tariffs on Turkish aluminum and steel imports.

The lira has lost almost 40 per cent of its value against the dollar this year as investors fret about President Tayyip Erdogan's influence over monetary policy.

On Friday, Turkey's state-run Anadolu news agency said a high court in Izmir had upheld a lower court's decision earlier this week to keep Brunson under house arrest.

Turkey has been rocked in recent days by a sharp decline in the value of its lira after US President Donald Trump tweeted last Friday that Washington was doubling aluminum and steel tariffs for Ankara.

He also urged Brunson to serve as a "great patriot hostage" while he is jailed and criticized Turkey for "holding our wonderful Christian Pastor".

"The more he can show that he's very interested in having relationships and he is the leader who can restore that stability, the better it's going to be", she concluded, By retaliating against the US, Bayrasli said that Turkey will give the perception that its cutting itself off from the largest economy in the world, which will be bad for Turkey's financial markets and growing businesses.

The Middle East Eye reported that Turkish diplomats are ready to comply - but want something in return.

"They should have given him back a long time ago, and Turkey has in my opinion acted very, very badly", Trump told reporters at the White House, referring to Brunson. He did not elaborate on what measures the United States is willing to take if Turkey continues to play hardball over Brunson.


Mr. Trump is taking issue with the continued detention in Turkey of Andrew Brunson, an American evangelical pastor who faces 35 years in prison on charges of espionage and terrorism.

A 100 Turkish lira banknote is seen on top of 50 Turkish lira banknotes in this picture illustration in Istanbul, Turkey August 14, 2018.

"Turkey has taken advantage of the United States for many years", Trump tweeted.

She explained to The Media Line that Turkey's economic growth under Erdogan was partly predicated on the fact that investors viewed him as a stabilizing force.

Mr Erdogan said: "Today some people are trying to threaten us through the economy, through interest rates, foreign exchange, investment and inflation".

Turkey is also seemingly on the brink of a major debt crisis, as a weakening lira makes it harder for Ankara to pay its worldwide dues.

"We will turn this crisis into an opportunity", said Erdogan's spokesman Ibrahim Kalin after a cabinet meeting chaired by the president, saying measures taken so far had helped bring about a "rapid improvement process" over the last two days.

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