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Bank borrowing drives up Turkish external debt
Sep04

Bank borrowing drives up Turkish external debt

Turkish banks’ foreign liabilities are on the increase, and that bodes ill for the country’s economy. Most of the recent increase in Turkey’s external debt has been driven by bank borrowing, Fitch Ratings said 3 September 2014. The rapid rise in banks’ foreign liabilities, particularly at the short end, leaves them more vulnerable to an extreme stress involving an abrupt and prolonged market shutdown. The...

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