Turkey won't change its course due to outer economic pressure - Erdogan

Turkey will respond if US imposes more sanctions

In an intensifying cycle of tensions with the United States, Erdogan has called for a boycott of USA electronic goods such as iPhones and Ankara has sharply hiked tariffs on some U.S. products.

"The U.S. does not know, it can not see who its true friend is", Cavusoglu told reporters during his closing speech at the 10th Ambassadors' Conference in the capital Ankara.

"Turkey did not and will not surrender to those which try to make Turkey as a strategic target", he said in reference to the US without naming the country.

Referring to imprisoned pastor Andrew Brunson, Trump said "they have a great Christian pastor there, he's a very innocent man".

Turkish Finance Minister Berat Albayrak and his French counterpart Bruno Le Maire, on a phone call, agreed to act together against USA sanctions against Turkey.

"If the traitor in Pennsylvania is extradited to our country, the handover of the pastor may be in the offing, and both countries will get what they want", Devlet Bahceli, leader of a far-right political party allied with Erdogan, said Wednesday in Ankara, according to the Anadolu news agency.

"We are not making a cowboy film".

Turkish President Tayyip Erdogan has linked Brunson's release to the fate of Fethullah Gulen, a Turkish Muslim cleric living in the United States whom he blames for the July 2016 coup attempt.

ENERGY, BANKS The Turkish banking watchdog has taken steps to stabilise the currency, limiting futures transactions for offshore investors and lowering limits on swap transactions.

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When Andrew Brunson saw a police summons on his door in late summer 2016, the USA evangelical pastor thought it was a routine appointment to sort out his residency papers in Turkey, his home for almost a quarter of a century. But some economists have called for more decisive moves.

Companies that for years have borrowed overseas at low interest rates have seen their cost of servicing foreign debt rise by a quarter in lira terms in two months.

The currency's fall has also sparked fears of an economic crisis in Turkey that could spread globally.

Qatar said it would provide "a host of economic projects, investments and deposits" worth 15 billion dollars to support Turkey's economy.

Traders may cash in on yesterday's gains going into the weekend amid lingering concerns about the financial crisis in Turkey and the outlook for the Turkish lira.

Deep concerns remain about the potential for damage to the economy, however. But the sell-off has increased the cost of servicing that debt, particularly for companies whose revenues are exclusively in lira.

But he suggested Turkish "policymakers only really seem to have done the minimum needed".

Turkey has the highest foreign exchange-denominated debt among emerging markets, Societe Generale said in its note on August 17, estimating its short-term external debt at $180 billion and total external debt at $460 billion.

The previous day two Greek soldiers held by Turkey since March for illegally crossing the border were also freed in a move warmly welcomed by Athens.

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