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Finance Ministry Pushes Back Against FATF Grey Listing

TURKEY
  • Hurriyet writes that the government have spoken out against yesterday's decision by the global watchdog the FATF to add Turkey to their 'Grey List' due to the lack of pushback on money laundering and terrorist financing.
  • The finance ministry have deemed the move as unfair and unwarranted, adding that the necessary steps will be taken to ensure that Turkey is removed from the list withing the shortest time.
  • TRT reports that Erdogan has claimed Turkey will recoup their $1.4bln paid to the US as part of the failed F-35 deal, adding that he believes they will make progress with the US ahead of a meeting with Biden in Rome.
  • Following Thursday's CBRT rate decision, sell-side analysts generally see further easing from the bank ahead of year-end, with a number of analysts also upgrading their inflation forecasts for Turkey. Full review out later today.
  • President Erdogan is to attend the Turkey-Africa Economy and Business Forum in Istanbul today. This follows his three state trip earlier in the week, where he visited Angola, Nigeria and Togo.
  • Following Thursday's surprise rate cut, USDTRY rallied to a fresh trend high and above Tuesday's 9.3747 peak. This confirms a resumption of the primary uptrend and with technical trend reading still in the bull camp, further upside is seen likely. A key short-term support has been defined at 9.2050, Wednesday's low, where a break is needed to suggest a short-term top. Key upside levels to watch include 9.6129 2.236 proj of the Sep 22 - 29 - Oct 1 price swing.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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