Kuwait dismisses injecting KD 500 mln to shore up Turkish lira

KUWAIT, Aug 13 (KUNA) -- Kuwait has rebuffed as "ungrounded" reports that it injected KD 500 million (USD 1.6 billion) to back the Turkish currency of lira, which has been in free-fall over deteriorating ties with the US.
Denying such reports, the Kuwaiti Ministry of Finance said in a statement that Finance Minister Nayef Al-Hajraf met with Turkish Minister of Treasury and Finance Berat Albayrak at Kuwait International Airport on Sunday evening.
During the meeting, both ministers addressed the latest economic situation in Turkey, where Kuwait has various investments, according to the statement.
But, they did not touch upon a possible backing to the Turkish national currency, nor did they make any financial or investment decisions, it confirmed. (end) aam.mt