Fitch: Elections could be crucial for Türkiye’s solvency

The international credit rating agency Fitch Ratings announced that the presidential and parliamentary elections on May 14 could be of great importance for Turkey’s creditworthiness due to economic imbalances exacerbated by pro-enlargement and unconventional policies.

“We will focus on the extent to which a transition to reliable and stable monetary policy after the election can stabilize investor confidence, reduce macroeconomic and financial risks, and increase access to external financing,” Fitch said.

The report indicated that the lack of sustainable monetary policy and prolonged political instability could increase pressure on the macroeconomy and the balance of payments. (Reuters)