Turkey Vows to Build Reserves as IMF Sees Slower Growth in 2024

Turkish Treasury and Finance Minister Mehmet Simsek vowed to build up currency reserves as the International Monetary Fund forecast slower growth and a narrower current-account deficit for 2024 as Turkey tightens its monetary policy.

“We will continue to accumulate international reserves as much as market conditions allow,” Simsek said in a message on X, formerly Twitter, late Friday after meeting investors in London.