17 August 2018•Update: 17 August 2018
By Gokhan Ergocun
ANKARA
Turkey's Treasury and Finance Ministry announced several relief measures, which proposed by the Banks Association of Turkey on Friday for the real estate and banking sectors.
"As the Treasury and Finance Ministry, while we resume making our policies to preclude the effects of economic attacks that started against our country and to provide Turkey with a stronger economic basis, we also continue to implement our plan to relieve our banks and real estate sector after rising foreign currencies," the ministry said.
The ministry stressed that they would open credit channels and continue to provide flexibility in maturity and pricing to warrant companies.
Limit excesses -- loan limit of companies identified in a policy -- concerning rising currencies will be ignored by the ministry.
The ministry will also not claim collateral warranties from companies.
Companies can notify any force majeure to the risk center for postponement of payment, dishonored checks, and protested bills from Aug. 8.
"With this companies can get loans without hindrance," the ministry said.
On Aug. 1 relations between Ankara and Washington nosedived when the U.S. imposed sanctions on two Turkish Cabinet ministers after Turkey refused to release an American pastor who faces terrorism-related charges in Turkey.
Last week, Trump ramped up his attack on Ankara by doubling tariffs on Turkish aluminum and steel imports to 20 percent and 50 percent, respectively.
In response, Turkey raised tariffs on several U.S.-made goods, including alcohol and tobacco products and vehicles.
