Turkish lira banknotes are seen in this picture illustration in Istanbul, Turkey August 14, 2018. REUTERS/Murad Sezer/Illustration/File Photo
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The Turkish government will unveil measures to help banks tackle the expected pile-up of bad loans resulting from the lira's plunge and soaring interest rates, according to people with knowledge of the matter.The energy industry alone owes $51 billion to the nation's banks.Non-performing loans increased to 3 percent of total liabilities, figures from the Banking Regulation and Supervisory Agency show, and Moody's Investors Service said in May this could deteriorate to 4 percent by year-end.Last week, the central bank jacked up rates to 24 percent, more than expected, though the currency is still trading below where it was in July.
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