$TRY

This tag is associated with 9 posts

Turkey’s New Central Bank Governor Must Walk Political Minefield

By Iain MacGillivray Turkey’s former Central Bank Governor Erdem Başçi has bowed out from his position after five years in the job, leaving behind an interesting financial legacy amid growing political pressure from the ruling government. While Başçi managed to keep the Palace at bay and interference minimal, the appointment of his successor Murat Çetinkaya, a … Continue reading

Turkey’s Election Turmoil: A Plague Upon The House Of Erdoğan

By Conn M. Hallinan As Turkey gears up for one of the most important elections in its recent history, the country appears, as one analyst noted, to be coming apart at the “seams”: Longstanding tensions with the country’s Kurdish population have broken out into open war. A Kurdish-led left political party is under siege by rightwing … Continue reading

Venezuela, Argentina, Turkey Are The Most Vulnerable To Risks Facing EMs: S&P

For the world’s emerging market nations, the period since the 2008 financial crisis has been, overall, conducive to economic growth, as a result of easy global credit conditions and, for commodity exporters, positive price developments. Now, though, at least three major risks are combining to provide for a much darker outlook, according to an article published … Continue reading

Turkey’s Monetary Policy Feud Stokes Financial Risk

By Etienne Lepers While Turkey – with its ceaselessly falling currency – is struggling with the same global forces as other emerging markets, an internal struggle between President Erdoğan, Central Bank Govenor Erdem  and deputy PM for the economy Ali Babacan is undermining Turkish economic vitality. Interest and currency rates have become subject to inter-departmental feuding generating significant financial uncertainty. Over the … Continue reading

More De-Dollarization: Turkey Looks To Settle Payments With Russia In Local Currencies

Turkey’s Ministry of Economy is considering a move to settle payments with Russia by using local currencies for major investment deals, Russia’s TASS news agency reports. “We would like payments in rubles and lira to be introduced at least for the larger investment projects in Russia and Turkey,” Turkey’s Deputy Economy Minister Adnan Yyldyrm, said during a joint … Continue reading

Can Turkey ETF Survive Political Woes?

By Zacks Equity Research iShares MSCI Turkey ETF (TUR) – the sole ETF focusing on Turkey – saw a terrible start to the year and is in fact the worst performing ETF in the emerging equities space this year. TUR has plunged roughly 17% this year as against flat returns by the broad emerging market funds … Continue reading

Turkey Looks To Ignite Its Stock Market By Going Public

Turkey’s stock exchange — Borsa Istanbul — said on Tuesday that it is planning to go public, in Ankara’s latest move to jump start its lagging $220 billion equity market, Reuters reports. Borsa Istanbul, the nation’s sole stock exchange, is planning to list up to 43 percent of its capital through the sale of the bulk of its shares … Continue reading

Turkey Seizes Bank Asya In New Crackdown On Gulen Movement

By David O’Byrne Turkish banking officials have seized control of Bank Asya, an Islamic bank believed to be controlled by supporters of US-based Turkish cleric Fetullah Gulen, while on the same day Turkey’s foreign ministry confirmed that Gulen’s Turkish passport had been cancelled. Turkey’s banking regulator, the BDDK, announced in a statement issued late on February … Continue reading

Ruble Crunch Hits Russia’s Neighbors Hard

By Charles Recknagel As the value of Russia’s ruble tumbles amid low oil global prices and Western sanctions, it is taking the currencies of many former Soviet republics down with it. Just ask Gagik Ghazaryan, an exporter in Armenia. He used to be able to sell soft drinks and canned food profitably to Russia before … Continue reading

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