After having narrowly escaped a balance of payments crisis last spring, there are questions surrounding the Turkish economy, not to mention the many (geo)political tensions.
Throughout this period, the currency has continued to experience strong downward pressures, leading to a surge in inflation. Recently, the markets seem to be recovering hope.
On some fronts, the news flow has improved. Inflation has fallen, the current account deficit has come down, FX reserves have stabilised and the bottom line is that the central bank kept its rates unchanged at its last monetary policy committee held on 16 January, calling into question possible doubts about its independence.
In addition, geopolitical risks, especially relations with the United States, seem to be easing.
However, for all that, is Turkey really out of the woods? READ MORE
- Turkey: Looming Challenges (Union Bancaire Privée)
- Turkey – Taking Stock in Times of Change (Undervalued Shares)
- New Fragile Five Facing a Forex Crisis: Argentina, Brazil, South Africa, Ukraine & Venezuela (Institutional Investor)
- Analysts Favor Currencies Like the Mexican Peso, Won and Zloty (WSJ)
- S&W’s McGrath: Emerging Markets Are at the Perfect Entry Point (FE Trustnet)
- Anadolu Efes (IST: AEFES / FRA: EF41 / OTCMKTS: AEBZY): Bridging the East-West Divide With Beer & Soft Drinks
- Emerging Market CDS Volume Up 46% in 2014 (EMTA)
- Mark Mobius Answers Readers’ Questions (Mobius Blog)
- Turkey’s Inflation Soars to 73%, a 23-year High, as Food and Energy Costs Skyrocket (CNBC)
- Emerging Market Companies & Governments Binge on US Dollar Debt (WSJ)
- Lira and Rand Among the Latest “Hot” Emerging Market Currency Bets (WSJ)
- The Emerging Market Sand Trap: Financial Reports, Currency & Other Risks (Epoch Times)
- MOBIUS INVESTMENT TRUST: Mobius Scans Far Horizons as China Shunned – Manager Carlos Hardenberg Says he is Facing Strong Headwinds (Daily Mail)
- “Friendshoring” Trend Sees Companies Moving Ops To Dodge Tensions And Trade Wars (Zero Hedge)
- Meet the Emerging Market Fund Manager Who Is the Antithesis of Mark Mobius (NYT)