Fitch Ratings has revised Turkiye’s outlook to ‘stable’ from ‘positive’, citing a sharp forex reserve drop.
The revision reflects a marked fall in international reserves since the start of the Iran war, with forex interventions to defend the lira estimated in excess of $50 billion.
A more protracted conflict would further pressure external finances and inflation, mainly due to its energy trade deficit.
The revision reflects a marked fall in international reserves since the start of the Iran war, with forex interventions to defend the lira estimated in excess of $50 billion.
A more protracted conflict would further pressure external finances and inflation, mainly due to its energy trade deficit.
