Rating agency calls for IMF deal
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Oluşturulma Tarihi: Kasım 28, 2008 20:00
ISTANBUL - Japan's Credit Rating Agency, or JCR, joined a growing international chorus Friday, calling for Turkey to make a deal with the International Monetary Fund. The agency said the timing of a deal is more important than its amount.
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As the global financial crisis unfolds, Turkey is having to endure an exit of foreign capital, JCR said, according to Anatolia News Agency. Thus, a deal with the IMF should be sealed soon, it said.
Noting that Turkey is financing its current account deficit largely through foreign capital inflows, JCR said a deal with the IMF could be an "anchor" for Turkey as confidence wanes in the global financial system.
The agency added that the foreign debts of the private sector might cause problems and foreign exchange liquidity should be closely watched.