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There is the possibility of a doom loop between small US banks and commercial real estate. The scenario looks like this: Small banks in the US hold over 70% of commercial real estate loans. ...
Prospect of removing the Erdogan regime at the ballot box appears to have gone for ever.
Flashing red lights on lira, sky-high inflation, dwindling FX reserves and soaring cost of insuring debt against default. A currency crisis could be around the corner.
As lira trades just below 20/$ in the interbank market, rate at the Istanbul Grand Bazaar hovers in the 21s.
With little expectation strongman Erdogan will be toppled in May 28 run-off vote, markets guard against economic calamity.
Kenya’s sovereign bond index at the distressed 1,000 basis point spread over US treasuries enjoyed a brief reprieve from unrelenting gloom, as IMF managing director Kristalina Georgieva declared it an innocent bystander in sub-Sahara default panic.
Lira hits latest record low and cost of insuring debt soars. New data, meanwhile, shows central bank burnt through $17bn in weeks before polls attempting to prop up economy.
Countries outside the US/UK/Europe bloc are leaving the dollar-based trade community at a rate which has begun to alarm US geopolitical strategists, and neocons in particular.
In Turkish elections there is a thievery margin. Everybody knows it.
Challenger Kilicdaroglu scores much less than expected. Markets disappointed the era of president’s ‘unorthodox’ economics is not over.
Turkey goes to the polls on Sunday May 14. Any rational analysis says the Erdogan era must end. Country in days and weeks that follow the voting will not be for the faint-hearted.
Russian Deputy Prime Minister Alexander Novak said on April 25 that Russia is now settling more of its international trade deals with yuan than it is with dollars.
Currency's one-month volatility has boomed ahead of the crucial polls in which, on current indications, the Erdogan era could end.
Fitch Ratings has affirmed National Bank for Foreign Economic Activity of the Republic of ...
So invested is Russia’s leader in his strongman pal’s re-election bid that he agreed to a virtual appearance simply to celebrate the arrival of some nuclear fuel.
The Budapest-based international development bank finally officially admits that it cannot meet its obligations after being frozen out of international financial markets. At the same time it insists that it is not yet insolvent.
Reports say it was costing mint three lira to produce a one lira coin amid severe currency depreciation. Central bank denies scrap dealers have been melting down coins to profit.
Amid a downgrade to the IMF’s global growth forecast, EM sovereigns should remain resilient with areas of relative growth outperformance, easing pressure on commodity importers and fiscal reform momentum.
Amid country’s FX crunch and crumbling of the lira, national lender said to turn up every day with “wheeled anchor chests” to buy around $260mn at expensive rates.