Yilmaz: Turkey May Gradually Abandon Lira Defense Program

Turkish Vice President Cevdet Yilmaz indicated today, Thursday, that Turkey cannot immediately abandon a government program that protects lira deposits from exchange rate fluctuations, adding that Ankara will adopt a gradual approach in this regard. In a television interview with "CNN Turk," he stated, "The plan may extend beyond the end of this year, and an immediate abandonment of it poses a risk of a sharp decline in the lira's exchange rate."