Fitch Says Before Turkey Review Resilience May Be Tested
This article is for subscribers only.
Fitch Ratings said before its review of Turkey’s credit rating next month that a possible tightening of U.S. monetary policy this year may test the resilience of the Turkish economy.
“External financing has been resilient to shocks in recent years and Turkey has not experienced a sudden stop of capital inflows,” said the report, signed by senior director Paul Rawkins and dated Feb. 12. “Nevertheless, this resilience may be tested in 2015, by U.S. monetary policy tightening or geopolitical risks, which are already being felt in the sharp fall in exports to Russia, Ukraine, and Iraq.”