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Low monetary credibility keeps strain on Turkish lira

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TURKEY

The recovery from the record low of 4.93 on May 23 may reflect officials’ efforts to counteract President Recep Tayyip Erdogan’s disastrous interventions in Turkey’s economic…

Turkey may be edging towards capital controls

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TURKEY

A score below 100 indicates a pessimistic outlook -- the index has not exceeded 100 since March 2018. Increasingly frequent and heavy-handed interventions by the Turkish Central…

Political meddling in monetary policy raises risks

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INTERNATIONAL

Politicisation of central banking.

Improvement in Turkish-US ties will be limited

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TURKEY/US

The deadly tremors on February 6 have ushered in a period of calm in bilateral relations, and Ankara is signalling that it could lift its veto on NATO’s enlargement to Finland and…

Beirut will need IMF support, despite political costs

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LEBANON

This followed the government’s decision to default, for the first time ever, on bonds maturing on March 9. There is a mounting controversy over whether to seek financial support…

Falling profits will force Turkish bank modernisation

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TURKEY

Banks' response to limited growth and profitability from restrictions on growing their credit card businesses.

Beirut may miss out on brighter growth prospects

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LEBANON

The wage scale law was cast into question when a contentious tax hike law intended to fund it was annulled by the Constitutional Council on September 22, partly on the grounds…

Risks are high despite Turkey’s policy 'normalisation'

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TURKEY

With the lira at a record low, the Central Bank continued to tighten monetary policy this week, funding the market through competitive one-month repo tenders at rates of around…

Investment-grade rating will benefit Greece’s economy

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GREECE

This is the first investment-grade (IG) rating given to Athens by one of the ‘big three’ rating agencies since 2010. The upgrade reflects Greece’s strong post-pandemic economic…

Gulf states will reinforce investment strategies

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GULF STATES

US banking stress reinforces risks for Gulf Cooperation Council (GCC) sovereign wealth funds (SWFs), although they are not significantly exposed to global banks directly. GCC SWFs…