Turkey central bank ready to take ‘all necessary measures’ for stability

Agencies
August 13, 2018

Istanbul, Aug 13: Turkey’s central bank on Monday announced it was ready to take “all necessary measures” to ensure financial stability after the collapse of the lira, promising to provide banks with liquidity.

“The central bank will closely monitor the market depth and price formations, and take all necessary measures to maintain financial stability, if deemed necessary,” the bank said in a statement, vowing to provide “all the liquidity the banks need.”

The statement came after the Turkish lira hit record lows against the dollar amid a widening diplomatic spat with the United States.

The detention of US pastor Andrew Brunson since October 2016 on terrorism charges has sparked the most severe crisis in ties between the two NATO allies in years.

The central bank announced the series of measures on Monday, a day after Erdogan’s son-in-law Berat Albayrak, who is treasury and finance minister, announced an action plan was in the pipeline.

“In the framework of intraday and overnight standing facilities, the Central Bank will provide all the liquidity the banks need,” the bank said.

The bank also revised reserve requirement ratios for banks, in a move also aimed at staving off any liquidity issues.

It said with the latest revision, approximately 10 billion lira, $6 billion, and $3 billion equivalent of gold liquidity will be provided to the financial system.

The nominally independent central bank has defied pressure to hike interest rates which economists said would curb the fall of the lira.

Erdogan on Saturday called interest rates as “tool of exploitation” that makes the poor poorer and the rich richer.

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News Network
May 6,2024

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The Israeli regime is forcibly evacuating Palestinians from the eastern part of Rafah in the southern Gaza Strip amid the prospect of its widely-discouraged ground invasion.

“The estimate is around 100,000 people,” an Israeli military spokesman told journalists on Monday when asked how many people were being evacuated.

International organizations, including the United Nations, have repeatedly warned the regime against invading the city, citing its hosting around 1.5 million Palestinian refugees.

UN Secretary-General Antonio Guterres said a ground assault on Rafah would “put the final nail in the coffin” for humanitarian aid operations in the Gaza Strip.

The UN Office for the Coordination of Humanitarian Affairs also said, “Any ground operation would mean more suffering and death,” with an official saying “It could be a slaughter of civilians.”

Multiple aid agencies, including the Norwegian Refugee Council, have likewise warned against a Rafah offensive.

The NRC said such an invasion “would profoundly exacerbate the already catastrophic levels of need and the humanitarian emergency for millions of civilians with nowhere left to go.”

The official alleged Hamas had killed three Israeli forces on Sunday, attacking them from Rafah.

The evacuation order came a sat least 22 people lost their lives in the regime’s airstrikes killed in Rafah earlier on Monday.

Rafah’s evacuation “is part of our plans to dismantle Hamas,” the Israeli spokesman added, referring to the Palestinian resistance movement that has been defending Gaza in the face of the war.

The Palestinians have fled there from the ravages of a war that the regime began waging against Gaza on October 7, following a retaliatory operation by the coastal sliver’s resistance groups.

At least 34,683 Palestinians, mostly women and children, have been killed and 78,018 others injured so far during the brutal military onslaught.

On Friday, Hossam Badran, a member of Hamas’ Political Bureau, said Israeli prime minister Benjamin Netanyahu’s insistence on carrying out a ground invasion of Rafah was a key stumbling block in negotiations aimed at a truce agreement.

The Israeli premier has said the regime would go ahead with invading the city “with or without” a truce.

Hamas has, however, asserted that the regime has failed to defeat the resistance during the war.

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News Network
April 30,2024

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Itamar Ben Gvir, a notorious far-right Israeli minister, has suggested that some Palestinians could be “killed” instead of being kidnapped during the savage war in Gaza.
 
The minister made remarks during an Israeli war cabinet meeting where he questioned the necessity of the detention of a large number of Palestinians.

“Why are there so many arrests? “Can’t you kill some? Do you want to tell me they all surrender? What are we to do with so many arrested? It’s dangerous for the soldiers.” Ben-Gvir was quoted as asking the Israeli military's chief of staff Herzi Halevi.

The minister also reportedly demanded that the army shoot Palestinian women and children in the besieged Palestinian territory to “protect” the Israeli forces.

Halevi briefed ministers who attended the cabinet meeting on the military campaign in Gaza and highlighted that hundreds of Palestinians had surrendered to the occupying forces.

Ben Gvir recently also called for the execution of Palestinian prisoners to ease overcrowding in the jails. The minister said that applying the death penalty to Palestinian detainees was the “right” solution to tackle the problem of prison overcrowding.

Israel soldiers have abducted more than 5,000 of Palestinians during their ongoing military campaign in Gaza.

The Gaza media office has said that Palestinian prisoners were undergoing "the worst kinds of torture" in Israeli jails.

Palestinian rights group Addameer earlier this month said Israel was holding 9,500 Palestinian political prisoners, not including those taken from the Gaza Strip.

Israel has arrested thousands of Palestinians since 7 October. Those detained, often without charge, describe regular beatings and a solitary daily meal designed simply to keep them alive.

Palestinians taken prisoner or hostage from both the West Bank and Gaza have given testimonies detailing horrific and sadistic abuse and torture by their Israeli jailers including beatings, verbal abuse, sexual abuse and rape, breaking of limbs, burns, being stripped naked, and forced drug taking.

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