Turkey’s Coming Debt Trap | Real Turkey

Atilla YeşiladaPosted on

 

  • Marry X-Mas and Season’s Greetings to all inhabitants of Planet Earth.
  • Debt has become a huge concern for Developing Economies, the management skills of which have not been tested in tight global financial conditions.
  • President Erdogan is changing Economic Models every month nowadays, which means he has NONE.
  • Turkey switched from an export-driven development model to exchange rate stabilization within a month.
  • The new exchange rate stabilization plan called “Exchange Rate Protected TL Deposits” creates huge “contingent liabilities” for the Treasury and Central Bank.
  • Turkey needs to re-finance at least $170 bn of foreign debt within a year.
  • External conditions are moving against countries like Turkey.
  • The debt trap is “limited access to global credit markets”.
  • What could be its extent and the damage to the Turkish economy?

 

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Published By: Atilla Yeşilada

GlobalSource Partners’ Turkey Country Analyst Atilla Yesilada is the country’s leading political analyst and commentator. He is known throughout the finance and political science world for his thorough and outspoken coverage of Turkey’s political and financial developments. In addition to his extensive writing schedule, he is often called upon to provide his political expertise on major radio and television channels. Based in Istanbul, Atilla is co-founder of the information platform Istanbul Analytics and is one of GlobalSource’s local partners in Turkey. In addition to his consulting work and speaking engagements throughout the US, Europe and the Middle East, he writes regular columns for Turkey’s leading financial websites VATAN and www.paraanaliz.com and has contributed to the financial daily Referans and the liberal daily Radikal.