Treasury and Finance Minister Nureddin Nebati outlined Turkey’s new economic path to investors in London, pledging to keep the exchange rate stable, bring inflation down to single digits and keep dollarization at bay, TurkicWorld reports citing Daily Sabah.

Speaking to investors and bankers in a series of meetings on his first trip abroad, Nebati also said Ankara would announce a new scheme on the weekend to get households to convert holdings of gold into Turkish lira.

Nebati met nearly 100 high-level executives on Monday and Tuesday to pitch Turkey’s new economic model based on low-interest rates.

President Recep Tayyip Erdoğan has been endorsing a model based on lower borrowing costs, which he says will boost production, employment and exports, and also eventually help Turkey solve its chronic current account deficit problem and contribute to stabilizing the Turkish lira.

To support the drive, Turkey’s central bank has slashed its interest rates by 500 basis points since September to 14%, before pausing the easing cycle last month.

At a press conference held at the Turkish Embassy in London, Nebati said that at the meetings he highlighted Turkey’s dynamic production capacity, strong growth performance, healthy public finance, firm banking sector and low debts.

Stating that the inflation in the country is temporary, he said communication with bankers and investors will be regularly maintained.

Under the new economic policy, the government aims to ease inflation by creating a current account surplus.

Turkey’s annual inflation soared to a 20-year high of 48.69% in January, according to official data.