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Opposition Leaders to Decide on Joint Presidential Candidate

TURKEY
  • Leaders of the six opposition parties will meet at 1100 GMT/1400 local time in Ankara to decide on their joint presidential candidate for the upcoming elections, however, it is not certain whether there will be an official announcement of their decision before the election date is confirmed.
  • The alliance, while committed to ousting Erdogan, remains fragile given its disparate ideological components, ranging from nationalists to social democrats to Kurdish-interest parties. The expectation within CHP ranks is that Kemal Kilicdaroglu will be one of the nominees, but the IYI Party continues to object to his candidacy, Milliyet report.
  • Preliminary trade data released this morning showed the trade gap widening in February by 52.7% y/y to $12.2b. Exports stood at $18.6b, while imports stand at $30.8b. The trade ministry explained that the rise in imports is due to an increase in unprocessed gold imports, and that a $1.5b downside impact on exports is expected due to the earthquakes.
  • The central bank will publish a summary of their February MPC meeting at 1130 GMT/1430 local time, while Cavusoglu will attend a meeting of G20 foreign ministers in New Delhi.
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