Qatar comes to the rescue of Turkey with US$15b investment package; lira rallies

ISTANBUL (Aug 16): The United States on Wednesday ruled out removing steel tariffs that have contributed to a currency crisis in Turkey if Ankara frees a US pastor, as Qatar pledged US$15 billion ($21 billion) in investment to Turkey, supporting a rise in the Turkish lira.

The White House stance appeared to give Turkish authorities little incentive to work for the release of Andrew Brunson, a pastor on trial in Turkey on terrorism charges and whose case Turkish officials have always said was a matter for the courts.

While the Brunson dispute appeared far from being resolved, Turkish President Tayyip Erdogan got a shot in the arm from Qatar's Emir, who approved a package of economic projects, investments and deposits after the two met in Ankara.

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