Economics
Turkey to End Silence Over $20 Billion Mystery With Reserves
- Economists say $20 billion of reserves not accounted for
- Regulator to explain balance sheet on April 30, official says
The Central Bank of Turkey in Ankara.
Photographer: Ali Balikci/Anadolu Agency/Getty Images
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The Turkish central bank is due to shed light next week on billions of dollars of foreign-currency holdings that analysts have been struggling to keep track of this year, according to an official familiar with the regulator’s plans.
An expected increase of as much as $20 billion in net reserves can’t be seen in official accounts for this year through March 29, according to eight economists surveyed by Bloomberg. Responding to questions over the discrepancy, a Turkish official said the central bank will provide an explanation at a quarterly inflation briefing on April 30. The official asked not to be named, citing rules against speaking to the press.