Signs that Turkey’s current account deficit is narrowing, coupled with a marked improvement in global financing conditions, have raised hopes that it may be able to put its balance of payments on a sustainable footing without enduring a complete collapse in domestic demand. Yet while the immediate threat of a hard landing has eased, Turkey remains highly vulnerable to a fresh spike in global risk aversion.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.