Türkiye is set to suspend some gold imports, aiming to ease the economic impact of devastating earthquakes that struck the southeastern region last week, a report said Tuesday.
Drawn up by the Treasury and Finance Ministry, the suspension will target gold purchases that fall into the category of "cash against goods" from abroad, Bloomberg reported, citing an official with direct knowledge of the matter.
It was not clear what proportion of Türkiye's gold imports would be affected and the ministry did not immediately respond to a request for comment.
Türkiye's gold imports have increased in recent years as more Turks buy bullion to protect their wealth from soaring inflation and a weakening domestic currency.
The country had a current account deficit of $48.8 billion last year, largely because of the high amount of bullion entering the country. In January, Türkiye imported gold worth $5.1 billion, Trade Minister Mehmet Muş said.
The Feb. 6 quakes centered around Kahramanmaraş and its aftershocks killed tens of thousands of people and flattened thousands of buildings. The disaster affected 10 provinces in Türkiye that are home to some 13.5 million people, as well as a large area in northwest Syria that is home to millions.
The quakes left a trail of destruction and inflicted heavy damage to infrastructure.
