Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Join the forum, it's quick and easy

Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

Would you like to react to this message? Create an account in a few clicks or log in to continue.
Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


Moody's cuts Turkey's sovereign ratings and the lira falls

rocky
rocky
NNP TEAM
NNP TEAM


Posts : 217737
Join date : 2012-12-21

Moody's cuts Turkey's sovereign ratings and the lira falls Empty Moody's cuts Turkey's sovereign ratings and the lira falls

Post by rocky Thu 08 Mar 2018, 1:44 am

Moody's cuts Turkey's sovereign ratings and the lira falls

Moody's cuts Turkey's sovereign ratings and the lira falls 6491

Moody's downgraded the credit ratings, Thursday, Turkey 's sovereign ratings to Ba2 fromBa1 because of what it said was the continued erosion of institutional strength and thegrowing risk of external shocks due to the large deficit in the current account balance .
The lira fell slightly to 3.8054 against the dollar by 0503 GMT, after recording a 3.8035 closing on Wednesday .
"The government appears to be still focusing on short-term actions at the expense of effective monetary policy and substantial economic reform," Moody's said in a statement .
In view of its negative institutional situation, Turkey's external position, debt requirements and loan extensions had deteriorated .
Moody's also noted "the growing risk of external shock crystallization due to the country's large current account deficits and rising external debt and the significant requirements to extend maturities in the context of heightened political risk ."
Moody's, which had already reduced Turkey's credit rating to a high risk in 2016, lowered its outlook for the year from a stable negative in March last year. The agency changed its outlook to a stable latest cut for the rating .


    Current date/time is Sun 29 May 2022, 3:10 am