Turkey’s central bank is boosting its reserves with ‘off balance sheet’ short-term swaps — and investors are aghast
|04/18/2019||Posted by BusinessMediaguide.Com under General World News||
- Turkey’s central bank admitted that it has boosted its foreign currency reserves with an “off balance sheet” arrangement.
- The central bank bolstered its holdings with “unorthodox” short-term currency swap deals. When removed from the total, they leave a lower-than-expected figure in its foreign currency reserves, worrying investors and analysts, as reported by the Financial Times.
- “The paranoid approach to analysts in Turkey isn’t helpful and not disclosing the off-balance sheet figures is unparalleled,” GAM’s Paul McNamara tells Business Insider.
- See Business Insider’s front page for more stories.
Turkey’s central bank has caused consternation amongst analysts and investors after admitting that much read more >>>