Turkey's economy from shock of coup attempt were dashed largelySource: www.export-egypt.com 9/21/2016, Location: Europe |
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Moody's credit rating, said that the trauma caused to the economy of Turkey due to the failed coup of July 15 dissipated to a large extent, adding that it expects the completion of the assessment of the country within the next month.
Said Alastair Wilson, director of sovereign risk at Moody's, told Reuters, "Even so, the problems of Turkey will remain in the long term," referring to the decision-making engines in the country and the vulnerability of the economy to global changes in the interest rate. Moody's had said in a July 18, she placed the credit rating of Turkey under review for possible downgrades to a high level of risk. Both Fitch and Moody's Turkey is classified at the lowest degree in worthy investment category. This allows the country to buy bonds by fund preservation, which requires the country to be classified when that degree, such as those by the major rating at least. |
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