ECONOMY

Currency-starved Turkey set to receive $6.4 billion from IMF

currency-starved-turkey-set-to-receive-6-4-billion-from-imf

Turkey is set to receive $6.4 billion from the International Monetary Fund, as the international organization has decided to make available $650 billion from its Special Drawing Rights program.

The fund injection comes at a crucial moment for Turkey, whose currency reserves have been depleted as a result of its unorthodox monetary policy.