Turkish economy

Moody's downgrades Turkey rating to B1

Moody's Investors Service cut Turkey’s sovereign credit rating to B1 from Ba3 and maintained a negative outlook, the rating company said in a statement. The agency noted that the risk of a balance of payments crisis …

Erdogan unveils Turkey's second 100-day action plan

Turkish President Recep Tayyip Erdogan unveiled the second 100-day action plan of Turkey's new presidential Cabinet at the presidential palace in Ankara. 'Turkey has completed 340 of the 400 projects from the …

Erdogan: Turkey closes chapter of IMF credits

Turkey does not intend to borrow loans from the International Monetary Fund (IMF) anymore, Turkish President Recep Tayyip Erdogan said. "We have closed the chapter of the IMF credits in order not to open it …

Turkey’s annual inflation nearly hits 18 percent

Annual inflation in Turkey rose again in August to nearly 18 percent, official statistics showed on Sept. 3, a record since late 2003, after the Turkish Lira dramatically weakened against the U.S. dollar last …