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Turkey could need a bailout that dwarfs the record-setting $50 billion loan that Argentina just got





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  • 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 >>>

Source:: BusinessInsider.Com

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