Türkiye's top economy official on Monday held a series of high-level engagements in New York, seeking to court rating agencies, investors and companies, and reassure them on the government's commitment to its medium-term economic program.
Treasury and Finance Minister Şimşek arrived in the United States to attend the G-20, International Monetary Fund (IMF) and World Bank Spring Meetings.
"We will meet with real sector representatives, especially U.S. companies that plan to shift their supply to Türkiye, especially following recent developments," Şimşek told reporters over the weekend, referring to the tariffs imposed by U.S. President Donald Trump.
On Monday, he attended a large-scale investor meeting organized by the Türkiye-U.S. Business Council and Citi Group, bringing together primarily portfolio investors.
The meeting was joined by senior executives from more than 25 institutions managing a combined $4 trillion in assets, Anadolu Agency (AA) reported.
Şimşek later held separate assessment meetings with senior officials from the world's three leading credit rating agencies, the report said.
The minister also met with Citigroup Chair John Dugan. Central Bank of the Republic of Türkiye (CBRT) Governor Fatih Karahan accompanied Şimşek during the New York leg of the trip.
Şimşek is scheduled to arrive in Washington on Tuesday, where further meetings with international financial institutions are planned.
Last Friday, Türkiye's overnight interest rate rose to the new upper band of the rate corridor, around 49%, a day after the central bank's surprise policy tightening.
The bank delivered a 350 basis-point interest rate hike to 46%, reversing a short-lived easing cycle and signalling renewed commitment to tackling inflation.
Those moves followed a market turmoil following the March arrest of Istanbul Mayor Ekrem Imamoğlu and the imposition of tariffs by Trump.
Şimşek said he would attend around 15 bilateral meetings or meetings organized by investment banks each day in the United States, and would convey the message that Türkiye's economic program will not change.
"In all these meetings, we will say that there is no change in the program, that there is a very strong political will behind the program," he said.
The program, implemented since mid-2023, centers around tight monetary policy, mainly aimed at curbing stubborn inflation.
Ahead of the U.S. trip, Şimşek said he does not foresee Türkiye changing its economic course following recent market and trade developments, and inflation would very likely hit the central bank's forecast range by year-end.
Annual inflation slowed to 38.1% in March. It marked the lowest since December 2022 and extended the fall from a peak of around 75% last May. The central bank's year-end inflation estimate currently stands at 24%.
"It is too early to analyze the permanent effects of recent developments in domestic financial markets and the global economy on our program targets," Şimşek told reporters over the weekend during a visit to the Black Sea province of Giresun.
"What is essential is the determined implementation of our program. Our biggest priority is price stability, that is, a permanent decrease in inflation. We do not see any significant risk in this regard. In this context, we do not foresee any significant deviations in the program at this stage," he said.
