[ad_1]
The credit rating agency Fitch announced Friday that it had degraded the yield of Turkish government bonds, believing that "the risks to the country's macroeconomic stability were rising."
Fitch degraded the treasury of the Turkish Grade BB + Grade BB, even deeper in the category of speculative investments. At the same time, he accompanied the downgrade with a "negative" outlook, which means that he could further degrade the solvency of the Turkish state in the next period, he said in a statement.
The Chamber recalls that the financial environment is becoming more difficult. is increasing, and there will be consequences of tilting the exchange rate of the new Turkish lira for the private sector, whose debt is often valued in foreign currency
. that "the credibility of economic policy has fallen in recent months, and the first steps taken since the June elections have increased uncertainty."
Experts worry about the worsening of the Turkish economy: the exchange rate of the Turkish lira is not (-30% since the beginning of the year). year), while annual inflation has crossed the 15% mark in June (15.39% compared to the same month of 2017), which is the most since 2003.
Markets As it is also concerned about the departure of the country to authoritarianism.
Turkey officially adopted this week by the parliamentary presidential system, which means that Recep Tayyip Erdogan now exclusively owns in his own hands the executive.
The President of Turkey has obtained the decree the privilege of appointing the head of the central bank, thus sending the message that in his own hands, he will also be the ruler on the definition of monetary policy in the country.
Erdogan also appointed his son-in-law, Berat Albairaq, new finance minister.
[ad_2]
Source link
