Thu. Nov 21st, 2024

Turkey

Turkish Economic Crisis: The Plunge of Lira and Exacerbation of Debt

In its report on the credit status of the Turkish economy, Moody’s reduced the investment status in Turkey to B2, which is Turkey’s lowest rating since 1990. This figure warns against investing in Turkey, and indicates the possibility that Turkey may resort to declaring a moratorium on its foreign debts or imposing restrictions on dealing with the dollar in Turkey.