Viewpoint wrote:Kikapu wrote:Viewpoint wrote:ISTANBUL (Reuters) - Fitch Ratings upgraded Turkey to investment grade on Monday, a move long coveted by Ankara, citing underlying strengths and an easing in near-term risks for the economy.
The credit ratings agency highlighted a moderate and declining government debt burden, a sound banking system, favourable medium-term growth prospects and a relatively wealthy and diverse economy.
The upgrade prompted a rally in Turkish financial markets, which had been anticipating the move in recent weeks, with the lira firming against the dollar while the benchmark bond yield fell to a near record low of 6.8 percent from 6.98 percent.
Fitch's decision was likely to boost the Turkish economy, Europe's fastest growing last year but slowing sharply this year, making the country more attractive to foreign investors.
And to all the doom and gloom merchants, up yours.
Turkey is not a European country for one.
Secondly, Turkey is a developing country where the rest of Europe are developed countries, so it's like comparing oranges and apples.Fitch's move does not mean that Turkey will automatically be included in benchmark investment grade bond indexes because other agencies would have to move as well.
http://www.hurriyetdailynews.com/fitch- ... sCatID=346
Sounds like sour grapes to me, must make you feel sick Kikapooo.
Not at all. I'm just stating facts.
Here is another fact for you. Nothing much will change in Turkey despite what Fitch did, because Turkey is not a Democracy western style and Erdogan acts like the Godfather rather than a true leader for all the people of Turkey. It's all symbolic what Fitch has done.
Bayram is already over, so stop celebrating already.
