Turkey: Where to go when the cash runs low - Reuters:
Turkey is struggling to support the ailing lira, which has lost more than 40% of its value over the past two years, and with foreign currency reserves running low, investors are trying to map out Ankara’s options for turning the tide.
The $850 billion economy’s potential needs are huge. Were Turkey to descend into a full-blown crisis where it was shut out of international borrowing markets, analysts estimate Ankara would have to find between $40 billion and $90 billion to avoid some kind of sovereign default.
For many economists, this is a textbook emerging market currency crisis.
No comments:
Post a Comment