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Monday, 9 January 2017

Turkey left in not so splendid isolation

Turkey left in not so splendid isolation:
"After one of the most tumultuous years in its modern history, Turkey is struggling to convince global investors to look beyond economic weakness and political risk.

Fund houses willing to bet on countries such as South Africa, where a corruption scandal is consuming the ruling ANC party, and Brazil, where President Michel Temer is battling to save his administration from corruption investigations, say the headwinds facing Turkey outweigh those of every other major developing country.

With investors wary of committing money, the rehabilitation trade that has supported bonds, equities and currencies in four of the so-called “Fragile Five” — Brazil, South Africa, Indonesia and India — currently eludes Turkey."

'via Blog this'