Lira crisis: Qatar comes to rescue as Turkey aims to avert financial plight

An escalating dispute over US pastor Andrew Brunson's continued detention has roiled financial markets in Turkey

Qatar agreed to help the Turkish economy weather a currency rout with a credit line to backstop its financial system, the first concrete measure after the Gulf nation pledged as much as $15 billion of investment in Turkey.

The lira weakened, with the prospect of further US sanctions targeting President Recep Tayyip Erdogan’s government keeping traders on edge as the nation’s bond and equity markets closed for a weeklong public holiday. Turkey’s credit rating was cut further into junk territory on Friday by S&P Global Ratings and Moody’s Investors Service.

The swap agreement between Qatar and Turkey aims to facilitate