Turkey
Beyoglu mayor among 40 detained in Erdogan-era sweep
Turkish police detained 40 people, including the mayor of Istanbul’s central Beyoglu district, as part of a sweeping corruption investigation, state broadcaster TRT Haber reported.
Turkey should continue tight, monetary policy until inflation at target, IMF says
1 min Mena Today
The International Monetary Fund called for continued tight, data-driven monetary policy in Turkey until inflation converges to target as it concluded an Article IV consultation.
The central bank has hiked its main policy rate to 50% from 8.5% to battle high inflation © Mena Today
The International Monetary Fund called for continued tight, data-driven monetary policy in Turkey until inflation converges to target as it concluded an Article IV consultation.
Higher interest rates since June last year have reduced economic imbalances and revived confidence, the IMF said on Saturday, adding that improved market sentiment had prompted foreign and domestic investors to shift into lira-denominated assets.
The central bank has hiked its main policy rate to 50% from 8.5% to battle high inflation. The government raised taxes and some fees to boost income, while implementing fiscal measures to balance risks in the economy.
Reporting by Nevzat Devranoglu
Related
Turkey
Russia's Lavrov discusses Alaska summit's outcome with Turkish, Hungarian counterparts
Russian Foreign Minister Sergei Lavrov held calls on Saturday with his Turkish and Hungarian counterparts, the Russian foreign ministry said, hours after a summit between the U.S. and Russian presidents yielded no deal on ending the war in Ukraine.
Israel
Far-right Israeli minister pays surprise visit to jailed Palestinian leader
Israel's far-right national security minister visited prominent Palestinian Marwan Barghouti in jail and told him "you will not win", a video showed on Friday, a day after another hardline cabinet member vowed to "bury" the idea of a Palestinian state.
Subscribe to our newsletter
