Kuwait City: Kuwait has rebuffed as "ungrounded" reports that it had injected KD500 million ($1.6 billion) to back the Turkish lira, which has been in freefall over deteriorating ties with the US, Kuwait Times reported.
Denying such reports, the Kuwaiti Ministry of Finance said in a statement that Finance Minister Nayef Al Hajraf met Turkish Minister of Treasury and Finance Berat Albayrak at Kuwait International Airport.
During the meeting, both ministers addressed the latest economic situation in Turkey, where Kuwait has various investments, according to the statement. But they did not touch upon any possible support of the Turkish currency, nor did they make any financial or investment decisions, it confirmed.