Turkish Money Markets, Pleased

Yoshihiko Tamura, Turkey analyst of Japanese credit rating institution JCR, said that the institution was closely observing the developments in Turkey and that there were positive developments in Turkish economy and the government took important decisions. Tamura said; As a result of positive developments we can raise the grade of Turkey from “close monitoring” to “positive monitoring.”

On the other hand, another rating institution, Fitch is expected to raise the appearance of Turkey to “positive” after the approval of the 5th Review by IMF. Fitch had reduced the grade of Turkey to “B minus” from “B” in March and had given a credit grade of “negative.”