Accuses daily and other Western media of falsely portraying Turkey’s economy as “collapsed, finished”.
Ekrem Imamoglu awarded mandate but analysts note president’s party needs to endure that step to make move for election rerun technically possible.
Turkish foreign minister reiterates Ankara’s opposition to US economic attack on Islamic Republic at joint press conference with Iranian counterpart.
Markets won’t like it if new poll is triggered. Investors want administration to get on with fixing Turkey’s messed up economy. Result reversal might put another big crack in country’s democratic foundations.
Talk turns to whether economy may be pulling out of recession—but a second ‘sudden stop’ in balance of payments might be under way.
Apologies, but a s*** show is a s*** show, whether it’s the latest unemployment figures, PPI data or the finance minister’s unconvincing bid for restorative hot money to address Turkey’s economic morass.
In 20 years covering country, BlueBay’s Timothy Ash “has not felt this concerned”.
Turkish assets slide again as Turkey’s hapless economic supremo tells it like it is (isn’t) at a JPMorgan-hosted event in Washington.
Defendant tells court an “unjust decision would harm my career and would harm my country’s prestige”.
Economy has debt albatross slung around its neck. Balance-of-payments risks persist, lira has another torrid day amid waning fundamentals.
The day when IMF assistance will realistically be required may be nearing. Turkey risks undermining state budget, one of the few anchors it still has.
Situation with Turkish criminal justice system “should be of grave concern to everyone in Turkey and internationally” says watchdog.
Russia's Fund for Direct Investment (RDIF) and internet major Yandex discusses deals and joint projects in Turkey, the head of the fund Kirill Dmitriev told the press, while announcing the creation of €900mn Russo-Turkish investment fund.
Companies stuck on hamster wheel of debt. $28bn of restructurings sought. Institutional integrity “degraded”. “Books not just being cooked” but “boiled, mashed, barbecued, sautéed and finally flambéed in a funeral pyre”.
Sets up final showdown with Washington. F-35 jets to be withheld from Ankara if it doesn’t budge.
But some analysts say he may yet swallow the setback and attempt to turn his fortunes around in a period with no scheduled polls until 2023.
With Turks already on edge over whether regime will accept election reverses, relations with Washington take another turn for the worse.
Opportunity knocked at start of 2019 after US Fed indicated it was retreating from tightening. That switched bond investors to risk-on and yield-hungry, attracting many to Emerging Europe markets.
Until it’s clear whether or not the strongman will take the Ankara and Istanbul election defeats on the chin, the country will feel stuck at a crossroads.
Move to make flight hub fully operational will kickstart Turkish Airlines’ plans to compete on a level playing field with the big Gulf carriers.