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A Very Familiar Crisis

August 19th, 2018 · No Comments

  • Turkey is suffering from a classic emerging market crisis caused by gorging on dollar denominated debt.
  • The backdrop environment is worsening, with higher US interest rates and a higher dollar.
  • But the situation is further complicated by US-Turkish tensions and the Turkish president’s intransigence on interest rates.
  • There are wider ramifications that could become very serious, as Turkey isn’t the only emerging economy facing trouble.

Source: A Very Familiar Crisis | Seeking Alpha

Tags: Emerging Markets