Monday 22 July 2019 ,
Monday 22 July 2019 ,
Latest News
  • CNG filling stations to remain open 24 hrs for Eid: Quader
  • Major rivers cross danger level at 20 more points across country
  • Govt. warns of stern action against lynching spreading rumours
  • Rifat murder: Court dismisses Minni’s two petitions
  • Barrister Suman sued for ‘hurting’ religious sentiment
  • ‘Priya Saha distorted my research findings’: Prof Barkat
16 June, 2019 00:00 00 AM
Print

Turkey hits out at Moody’s after credit rating cut

AFP, Ankara

Turkey yesterday lambasted Moody's ratings agency after it cut Ankara's credit rating further into junk territory, saying the downgrade raised concerns over the institution's "objectivity and impartiality". The agency downgraded the long-term debt rating to B1 from Ba3 and said it maintained the negative outlook for Turkey, in a statement late Friday.

Although the country had a "large, diverse economy" and government debt was low, Moody's said this was outweighed increasingly by "continued erosion in institutional strength and policy effectiveness on investor confidence". But the Turkish treasury and finance ministry said the move was "incompatible with the Turkish economy's fundamental indicators".

"As a result this raises questions over the objectivity and impartiality of the body's analyses," the ministry added in a statement. It pointed to rising tourism revenues, falling inflation and a new judicial reform package as examples of "very positive developments that we sadly see are being ignored".

The Turkish economy entered into recession for the first time in a decade last year following a currency crisis in the summer amid tensions with the United States. But last month official data showed Turkey exited the recession with 1.3 percent growth in the first quarter of 2019, although analysts say the return to growth could be temporary.

Comments

Poll
Today's Question »
State minister for power Nasrul Hamid yesterday said everyone to have access to electricity by June. Do you think the feat achievable by the timeframe?
 Yes
 No
 No Comment
Yes 48.5%
No 47.5%
No Comment 4.0%
Most Viewed
Digital Edition
Archive
SunMonTueWedThuFri Sat
010203040506
07080910111213
14151617181920
21222324252627
28293031

Copyright © All right reserved.

Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Disclaimer & Privacy Policy
....................................................
About Us
....................................................
Contact Us
....................................................
Advertisement
....................................................
Subscription

Powered by : Frog Hosting