April 30, 2020 / 3:06 PM / a month ago

Fed conditions for Turkey swap are financial not political, U.S. envoy says

WASHINGTON (Reuters) - U.S. Federal Reserve conditions for any swap facility with Turkey are based around financial and monetary issues, not politics, the U.S. ambassador to Turkey said on Thursday.

“Turkey has been in direct contact, as have many states, with the Federal Reserve,” ambassador David Satterfield told an online meeting hosted by the Atlantic Council.

“There are certain requirements set by the open markets committee of the Fed with respect to potential eligibility. They are financial monetary requirements, and conditions that are not politically linked.”

Reporting by Humeyra Pamuk; Editing by Dominic Evans

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