Turkish Minister of Finance and Treasury Berat Albayrak has conducted a swift visit to Kuwait to seek financial assistance amid Turkey’s mounting currency crisis, but has not secured it, Turkish media reported citing a person familiar with the meeting.
Albayrak flew in to Kuwait on Sunday evening, where he held a 40-minute meeting at the airport with the Kuwaiti finance minister, Nayef Al-Hajraf, and central bank governor, Mohammad Y. Al-Hashel, to request support during Turkey’s most severe currency crisis in decades, Ahval reported.
The Turkish finance minister had reportedly been seeking a support package worth $1.8 billion from the Kuwaiti Finance Ministry. However, the Kuwaiti officials gave no promises on the matter, the report said.
Albayrak had said new measures would be revealed on Monday, but was a noted absence throughout the day, as the lira continued its slide to almost seven to the dollar at the time of writing.
Albayrak is expected to continue seeking investment among Gulf Cooperation Council countries this week, Bloomberg reported on Monday.
Meanwhile, Turkish President Recep Tayyip Erdoğan reportedly spoke to Qatari Emir Sheikh Tamim bin Hamad Al Thani in a phone conversation on Monday evening.