Turkey Moves to Calm Investors After Coup Attempt Quashed
- Deputy PM says ‘no need to worry,’ plans to speak to investors
- Central Bank pledges unlimited liquidity to commercial lenders
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The Turkish government moved swiftly to calm investors before financial markets reopen Monday after a failed coup, with the central bank promising unlimited liquidity to lenders and the deputy prime minister posting on Twitter that there’s “no need to worry.”
Turkey’s lira plunged the most against the dollar in eight years on Friday as tanks rolled through the streets of Ankara and Istanbul, and warplanes and helicopters circled overhead. While President Recep Tayyip Erdogan’s forces rounded up thousands of judges and military officers allegedly involved in the coup attempt, officials sought to prevent a sell-off when stocks and bond traders have their first chance to react on Monday.