Turkey could need a bailout that dwarfs the record-setting $50 billion loan that Argentina just got
|09/25/2018||Posted by BusinessMediaguide.Com under General World News||
- Turkey sharply raised its benchmark interest rate this month.
- But it may need a hefty credit line to avoid defaults and capital flight.
- Macquarie strategists estimate it needs $75 billion — more than Argentina recently received from the IMF.
Turkey may need more than just rate hikes to shore up capital.
Specifically, it needs about $75 billion, according to Macquarie strategists Thierry Wizman and Gareth Berry. That’s about 1.5 times what the International Monetary Fund agreed to loan Argentina this summer — the largest bailout deal in its history.
“President Erdogan isn’t likely to allow another rate hike,” the strategists said, read more >>>