Turkish regulator looks to cancel $1.9bn worth of bank loans

Turkish regulator looks to cancel $1.9bn worth of bank loans

Ankara is seeking to have Turkish banks write off loans to key energy and infrastructure projects as part of a wider strategy to clear lenders' books and boost available credit in Turkey's lacklustre economy. According to Bloomberg, the banking regulator, known in Turkey by its initials BDDK, is looking to have the credit approved to date for at least three new gas-fired power plants to be classified as non-performing loans. Turkish banks that have lent to these infrastructure projects ...

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Author spotlight

Christopher Copper-Ind

Christopher Copper-Ind is editor-in-chief of International Investment. Before this, he was editorial director of The Business Year, from 2014 to 2017.