- 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.
A Very Familiar Crisis
August 19th, 2018 · No Comments
Tags: Emerging Markets