Mohamed A. El-Erian , Columnist

7 Things to Keep in Mind About Turkey

The country is confronting some old problems and a host of new risks.

August 13, 2018 at 6:00 AM UTC

Mohamed A. El-Erian is a Bloomberg Opinion columnist. A former chief executive officer of Pimco, he is president of Queens’ College, Cambridge; chief economic adviser at Allianz SE; and chair of Gramercy Fund Management. He is author of “The Only Game in Town.”

The bill is due.
Photographer: Jasper Juinen/Getty Images

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The weekend gave Turkey and the world’s financial markets a much-needed breather after the country’s currency experienced a week of intense weakness and dizzying volatility. But it also builds expectations among traders of a decisive policy initiative that, if it proves insufficiently impressive, could lead to even more market disorder and, with that, the potential for wider economic and financial dislocations.

There are seven main issues that traders, investors, governments and central banks should keep in mind.