The spokesman of the Saudi Foreign Minister has said that Saudi Arabia is talking about depositing five billion dollars in the Central Bank of Turkey.
According to Saudi media, the country’s economy is under severe pressure due to the inflation rate in Turkey exceeding 85%. In such a case, the deposit of money by Saudi Arabia can help to increase Turkey’s foreign exchange reserves.
In response to the e-mail sent to the Saudi Ministry of Foreign Affairs, the spokesman said that the consultation regarding the deposit of five billion dollars in the Central Bank of Turkey is in the final stages.
On the other hand, the Central Bank of Turkey has refused to say anything in this regard. However, a Turkish official familiar with the talks said that negotiations on an agreement to deposit money from Saudi Arabia are in the final stages.
In addition, analysts say that Saudi Arabia’s contribution could help Turkish President Recep Tayyip Erdogan boost popular support ahead of elections in June next year.
If this agreement is reached, it will also be a sign that bilateral relations have been restored after the end of tension between the two countries for many years.