Turkey refused IMF loans

© RIA Novosti / Sergey Goneeverything in Photobacterium Recep Tayyip Erdogan. Archival photoTurkey refused IMF loans© RIA Novosti / Sergey Goneeverything the image Bank

Turkey no longer intends to use the International monetary Fund, said President Recep Tayyip Erdogan.

«We have closed the page of IMF loans, to never open,» — he said, speaking in the town of Kızılcahamam to the activists of the ruling Party of justice and development.

This statement by the Turkish leader made against the backdrop of strained recent relations with Washington, including the case of American pastor Andrew Brunson, which Turkish authorities detained another in 2016. The US imposed sanctions against the head of the Turkish Ministry of justice of Abdulhamit Gul and interior Minister Suleyman Soylu, accusing them of «serious violations of human rights».

Then President Donald trump said that sanctioned the raising by half of import duties on aluminium and steel from Turkey — up to 20 percent and 50 percent, respectively. This caused the collapse of the Turkish Lira to a historic low. In response, Ankara has sharply increased tariffs on 22 types of American goods (including tobacco, alcohol, automobiles, beauty products, rice and fruits) for a total amount of 533 million dollars.