Erdogan: "We won't allow opportunists to exploit the economic crisis"

Prime Minister Recep Tayyip Erdogan yesterday attended a reception in Ankara of the International Investors' Association (YASED). Speaking at the occasion, Erdogan said Turkey is becoming a foreign investment magnet thanks to the 2003 Foreign Direct Investment Act, adding that coordination among governmental institutions is helping this effort. Touching on the global financial crisis, Erdogan warned that the government wouldn't allow anybody to exploit the crisis' impact for personal gain. "We must turn the crisis into an opportunity not just for some, but for the entire nation," he said. Stressing that the financial sector should do everything it can to stem the crisis, Erdogan said that banks should avoid calling back loans and not hesitate to provide new ones. He added that raising interest rates would threaten the economy. All the country's political and economic actors should cooperate fully in line with a common strategy to successfully manage the crisis' impact, he said.