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Fitch Ratings said it lowered Turkey's sovereign debt rating, saying that "the risks to the country's macroeconomic stability have increased."
Fitch Ratings said Turkey's credit rating fell "
The agency tied its rating to a" negative "outlook, which means it could soon reduce it to
Fitch added that the credibility of economic policy Turkey has deteriorated in recent months and the first steps taken after the elections of
The agency noted that she considers that the risks to Turkey's macroeconomic stability have increased due to the widening of the current account deficit
The Turkish lira has fallen to a record level against the dollar, losing around 22% of its value against the Since early 2018, investors fear the influence of Turkish President Recep Tayyip Erdogan on monetary policy and its repeated calls at lower interest rates.
The Monetary Policy Committee of the Bank central must be Unite on July 24. The committee has raised interest rates by 500 basis points since April to try to support the currency.
Sky News Arabia
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