Turkish Lira hit eight-months low affected by Istanbul’s election crisis, which could trigger further economic changes. As a result, the central bank announced Thursday that it temporarily suspended the weekly Repo auctions. Turkeys currency fell to 6.24 against the dollar in Thursday’s trade. It then rebounded slightly to 6.22 lira against the dollar after the release of the central bank’s statement. The Central Bank’s decision will lead to higher borrowing costs for banks in the country. It has been trying to stop the further drop in the country’s currency exchange rate by limiting the amount of Liras the banks can buy. The bank has been under pressure to raise interest rates but has kept lending rates at 24 percent. Its monetary policy board is due to hold its next meeting on June 12. Meanwhile, a group of international investors discussed with Turkish bank officials the possibility of buying bad debts as part of a Turkish government plan to rid banks of these debts. The meeting between both sides was organized by PricewaterhouseCoopers (PwC) in Istanbul on Thursday. It is the first of its kind since Turkish Minister of Finance and Treasury Berat Albayrak unveiled his plans to get rid of the energy and real estate sectors’ debts, which will be transferred to two funds run by international and local investors and banks. Representatives of the US Goldman Sachs and Bain Capital, the European Bank for Reconstruction and Development (EBRD) and the World Bank’s International Finance Corporation (IFC) are considering buying some of the bad debts from Turkish banks, according to Bloomberg. The news agency said talks on Thursday were preliminary to discuss details about the two funds’ work, structure, and managers. A spokeswoman for the EBRD confirmed the bank’s attendance in the meeting while two spokesmen from Goldman Sachs and Bain Capital refused to comment. Notably, Turkish banks have been hit hard by the rise in the size of bad debts. Amid expectations of failure to pay these debts, many businesses have asked to reschedule their loans. Banks received requests to reschedule $28 billion debts, following the 30 percent drop in the Turkish lira against the dollar last year.