Fitch cuts Turkey's Credit Rating deeper into Junk Territory

[Indos]

I am not saying debt.

Borrow means foreign holders hold a lot of liability of Turkey.

Turkey has huge goods trade deficit in past decades, highly dependent on remittance of oversea Turks, and tourism.

Turkey currency is unstable in past decades, very high inflation, domestic and foreign investors always keep $ or € instead of Lira. It worsens Lira currency.

Turkey as a nation has double deficit, trade deficit and fiscal deficit. Erdogan just postponed when market is good, but liability is liability. Covid-19 exploded the long waited bomb.

I suspect Erdo is printing money though, I mean printing money should be the policy of Turkish Central Bank, but that guy is able to intervene that institution

 

[vi-va]

I suspect Erdo is printing money though, I mean printing money should be the policy of Turkish Central Bank, but that guy is able to intervene that institution

Turkey development model is unlike East Asia, more like Thailand, or South America.

Turkey has made great achievement indeed, but it comes with a cost, which is foreign holders hold huge liability of Turkey.

East Asia countries have huge saving, those saving will be used for infrastructure and other development projects. Turkey development model relies heavily on foreign investment, just like Thailand and South America.

East Asia countries have huge trade surplus, which created tremendous foreign exchange reserves, little liability. Those exchange reserves are used to stabilize exchange currency.

Japan was forced to double their currency exchange rate in Plaza Accord back in 1985. While South Korea was forced to sell their assets to Yankees in 1997 Asian financial crisis. Those are lessons.

Apparently, Turkey has not learned much from East Asia and South East Asia lessons.

 

[Indos]

Turkey development model is unlike East Asia, more like Thailand, or South America.

Turkey has made great achievement indeed, but it comes with a cost, which is foreign holders hold huge liability of Turkey.

East Asia countries have huge saving, those saving will be used for infrastructure and other development projects. Turkey development model relies heavily on foreign investment, just like Thailand and South America.

East Asia countries have huge trade surplus, which created tremendous foreign exchange reserves, little liability. Those exchange reserves are used to stabilize exchange currency.

Japan was forced to double their currency exchange rate in Plaza Accord back in 1985. While South Korea was forced to sell their assets to Yankees in 1997 Asian financial crisis. Those are lessons.

Apparently, Turkey has not learned much from East Asia and South East Asia lessons.

Huge saving is not actually something good, it means the population is cautious on the future, better more spending to stimulate domestic economy, Indonesia domestic spending is around 60% of GDP.

China businesses use the saving to finance their business plan, one of them is on property sector which is seeing some problem at the moment and I believe China banking NPL (Non performing Loan) will increase due to that problem.

 

[Tshering22]

Wrong! Those talks have long since collapsed.

Europeans have never considered Turkey a European state. In fact, they are right, Turkey has never been European. That's why Western media never make "positive" news about Turkey, just like Russia and China.

Turkey's NATO membership is now almost on paper. I expect Turkey-Western relations to get worse as time goes on, I think it will never get better.

Correct me if I am wrong, but there is no government position in Turkey to consider leaving the NATO alliance right?

 

[[TR]AHMET]

Hey mods is this secterianism allowed here? calling us names as “AK-Troll crew” this little scumbag should know that he is insulting 60% of Turkiye right now, these scumbags used to own turkish defence forum with moderator powers and they would kick out any Turkish person with pro government views. or basically whoever don’t agree with their own lies and bullsh**.

years later it seems those losers they were cleansed from the forum and slowly non secterian normal Turks like me are coming back however unfurtionately some of these scums are still here name calling and backstabbing like a true coward and bastard is what they do at every chance when we turn our attention away for a sec.

@Mods please take care of this scumbag before they again chase us away from here.

anyone know a mod i can tag right now?

this actions called as munafiq, they looks like Muslim or Turkish but they are following our enemies. They speak mouth of westerns, look at greeks and him they speak same way.

Fonikas was mention about that why greeks and other minorities not using their real name, so this is the answer they dont prefer to use their real name to make munafiq things.

Those munafiqs like bad events what happenned in Turkiye since last 10 years. Gezi events, military coup, PKK atacks hendek events, deash atacks, dhcpc atacks, embargo done by westerns, refugee problems, economic atacks which done by USA and UK, Zionist businessmen disrupting the domestic market, even they happy with corona because it harms Turkish people.

So if something is bad for Turkiye they mouth watering because Erdogan will go, why they dont love Erdogan because he is Muslim, what their political leaders says before; what will happen no important for Turkiye if Erdogan go...

Their mentality only work against Erdogan and against Islam. if greek invade our lands they will feel happy, if USA invade they will be happy because their heart beating with infedels.

 

[khansaheeb]

Rating agencies can also have a strong bias. While the Turkish economy is suffering indeed, there is a big window of opportunity if Erdogan actually listened to his economists and Central Bank governors. His war with his own scholars is not going in the right direction and political ego is affecting the common people. I am not an economist, but making borrowing cheaper at a time when inflation is shooting isn't a wise idea.

Unlike Lebanon or Syria, the one thing that Turkey has is a very strong economic foundation that is based on producing goods relative to its region, competitive pricing, a strong sense of self-confidence and identity in people & an industrious mindset to excel. These 4 things when managed well, can bring any nation from the edge of abyss to prosperity.

There is still considerable time for RTE to reverse his mis-calculations.

Yep, who gives a Fitch about Fitch?

 

[casual]

Turkey development model is unlike East Asia, more like Thailand, or South America.

Turkey has made great achievement indeed, but it comes with a cost, which is foreign holders hold huge liability of Turkey.

East Asia countries have huge saving, those saving will be used for infrastructure and other development projects. Turkey development model relies heavily on foreign investment, just like Thailand and South America.

East Asia countries have huge trade surplus, which created tremendous foreign exchange reserves, little liability. Those exchange reserves are used to stabilize exchange currency.

Japan was forced to double their currency exchange rate in Plaza Accord back in 1985. While South Korea was forced to sell their assets to Yankees in 1997 Asian financial crisis. Those are lessons.

Apparently, Turkey has not learned much from East Asia and South East Asia lessons.

The way I see it, Turkish gov is trying to force a change in its economic structure with this devaluation of the currency. They were trying to jump start exports and was aiming for a net trade surplus. However things have gotten somewhat out of hand. Erdogan has some balls tho, he's staying course to see this though even with %80 devaluation of the lira.

 

[merzifonlu]

this actions called as munafiq,

Pakistan is a country severely damaged by Islamist fanaticism. And AK-Trolls, who brand anyone who does not think like them as munafıq or traitors, will not be able to stay for long, even in this forum run by Pakistanis.

By reading what these idiots have written, you can easily understand the source of the main problem in Turkey. They saved me the trouble, I didn't even have to give examples!

 

[Indos]

this actions called as munafiq, they looks like Muslim or Turkish but they are following our enemies. They speak mouth of westerns, look at greeks and him they speak same way.

Fonikas was mention about that why greeks and other minorities not using their real name, so this is the answer they dont prefer to use their real name to make munafiq things.

Those munafiqs like bad events what happenned in Turkiye since last 10 years. Gezi events, military coup, PKK atacks hendek events, deash atacks, dhcpc atacks, embargo done by westerns, refugee problems, economic atacks which done by USA and UK, Zionist businessmen disrupting the domestic market, even they happy with corona because it harms Turkish people.

So if something is bad for Turkiye they mouth watering because Erdogan will go, why they dont love Erdogan because he is Muslim, what their political leaders says before; what will happen no important for Turkiye if Erdogan go...

Their mentality only work against Erdogan and against Islam. if greek invade our lands they will feel happy, if USA invade they will be happy because their heart beating with infedels.

If you want AKP to strive, AKP must kick Erdo out and replace him with person like Abdullah Gul or others and then believe and rely economic management by the real Economists

 

[[TR]AHMET]

Pakistan is a country severely damaged by Islamist fanaticism. And AK-Trolls, who brand anyone who does not think like them as munafıq or traitors, will not be able to stay for long, even in this forum run by Pakistanis.

By reading what these idiots have written, you can easily understand the source of the main problem in Turkey. They saved me the trouble, I didn't even have to give examples!

If someone do mistake as muslims it is not belong to Islam, you have to know this first. Muslims are not perfect but Islam is perfect, so stop being hater against Islam.

İslamist fanaticism definition is belong to zionists who allways targetting Islam through their proxy wars.

What you write shows your mentality, your goal is not Erdogan'a mistakes but Islam...

So this is munafiq behaviors...

If you want AKP to strive, AKP must kick Erdo out and replace him with person like Abdullah Gul or others and then believe and rely economic management by the real Economists

View attachment 816743

we are not like idiot that surrender our country to british puppet who linked with FETO

abdullah gul a trojan who get into Ak party but detected

 

[[TR]AHMET]

If you want AKP to strive, AKP must kick Erdo out and replace him with person like Abdullah Gul or others and then believe and rely economic management by the real Economists

View attachment 816743

we are not like idiot that surrender our country to british puppet who linked with FETO

abdullah gul a trojan who get into Ak party but detected

View attachment 816744

 

[Indos]

we are not like idiot that surrender our country to british puppet who linked with FETO

abdullah gul a trojan who get into Ak party but detected

View attachment 816744

FETO and AKP is partner before, better forgive

Just punish the wrongdoing person, Erdo is just getting mad, kicking out of all FETO members despite the coup I believe is only planned by 10 FETO persons ( their leaders)

Be Just as Muslim, this is the main character of real Believers

 

[Viet]

Wrong, actually Turkey debt to GDP ratio is quite small, around 30 %

The problem is not the level of debts. The problem is how creditable you are. Germany has much higher debt ratio. However Germany earns money if selling debts. Turkey has to pay high interest rates. That’s the problem because Turkey has no to too little dollars.

If that don’t stop Turkey will default.

 

[Indos]

The problem is not the level of debts. The problem is how creditable you are. Germany has much higher debt ratio. However Germany earns money if selling debts. Turkey has to pay high interest rates. That’s the problem because Turkey has no to too little dollars.

If that don’t stop Turkey will default.

That is right, because of that Japan credit rating is high since all of their debt is taken by Japanese own institution and people in the form of Yen.

This is what any nation should do, Indonesia is also now less reliance on foreign money on Government Bond (SUN), majority of our gov bond holders are now domestic institutions/people, individuals also can buy it, for domestic bond holder the bond is in Rupiah, our own currency

 

[Viet]

That is right, because of that Japan credit rating is high since all of their debt is taken by Japanese own institution and people in the form of Yen.

This is what any nation should do, Indonesia is also now less reliance on foreign money on Government Bond (SUN), majority of our gov bond holders are now domestic institutions/people, individuals also can buy it, for domestic bond holder the bond is in Rupiah, our own currency

Japan runs giant surpluses she has giant industrial base the yen is strong. If she needs money the bank of Japan just prints it. The world loves the yen. Including me. If Turkey prints lira who will take it? Indonesia is a different case you run current account surplus Turkey not. Turkey runs high deficits she relies on foreigners to finance their imaginary high standard life of living. Once the money stops Erdogan will file bankruptcy.