U.S. ambassador says Turkey ignores pharma debt at its peril

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The U.S. ambassador to Turkey said on Wednesday companies will consider abandoning its market if it fails to fully meet debt payments to American pharmaceutical firms, and he criticised a new Turkish law clamping down on big social media sites.

FILE PHOTO: Acting U.S. Assistant Secretary of State for Near Eastern Affairs, David Satterfield, prepares ahead of his address to the 11th Annual International Institute for National Security Studies Conference in Tel Aviv, Israel January 31, 2018. REUTERS/Amir Cohen

A year later those companies were being asked to accept significant reductions in the amounts owed, Satterfield said, adding there will be consequences for non-payment of debt or reductions in payment. Yet there are hurdles including U.S. tariffs on Turkish steel, and Ankara’s purchase of Russian missile defences last year that prompted Washington to oust Turkey from a consortium producing F-35 jets.

 

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