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Economics

Turkey Credit Default Swaps Jump to 19-Year High Amid Lira Woes

Customers wait to use bank automated teller machines in Ankara on May 31. — Customers wait to use bank automated teller machines in Ankara on May 31.
Photographer: SeongJoon Cho/Bloomberg

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June 13, 2022, 6:56 AM UTCUpdated onJune 13, 2022, 10:44 AM UTC

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The cost to insure against a debt default by Turkey’s government in the next five years surged, heading for the highest closing level in almost two decades.