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Turkey Acts to Limit Rent Increases Amid Soaring Inflation

Buildings in Istanbul. Photo: Pixabay/btastinkaya

According to the new regulation, rent price hikes will be limited to 25 per cent until July 2023.

"Rents can only be increased by 25 per cent. We tried to protect the rights of both tenants and landlords," Turkish Justice Minister Bekir Bozdag told reporters before the parliamentary vote on Wednesday.

Ankara in talks with four countries for swap deals

The Turkish Lira cheered Central Bank Governor Şahap Kavcıoğlu's announcement late on June 22 that the country was in talks to secure currency swap agreements with four countries and was close to a deal with two of them.

Kavcıoğlu's remarks came during a meeting with bank executives, according to media reports.

International Finance Corporation launches bond program in Turkish Lira

The International Finance Corporation (IFC) said on June 22 it has introduced an innovative financial instrument to expand the availability of Turkish Lira financing for private enterprises in Turkey.

The IFC, a member of the World Bank Group, has become the first multilateral institution to issue lira-denominated discount notes.