ISTANBUL — As the coronavirus pandemic continues to rattle global economies, Turkish banking officials have been seeking fiscal support from a number of countries and Qatar was the first to respond.
On Wednesday, Qatar expanded an existing swap deal to $15 billion, raising the prior limit from $5 billion to help bolster depleted Turkish central bank reserves and help steady the lira. The move underlines strong relations between the two nations, which opened swap arrangements during a 2018 currency crisis in Turkey and continue to cooperate amid a Saudi Arabia-United Arab Emirates-led economic blockade on Qatar.
