Free Trial

Perilous Situation at Turkey's Wealth Fund in the Spotlight

TURKEY
  • Tax specialist warns situation at Turkey's wealth fund is perilous after being turned into a debt fund in 2019/20 to offset the decline in CBRT FX reserves
  • Says if it were a commercial enterprise it would be technically bankrupt
  • situation is not sustainable with considerable balance sheet risks
  • Majority of debt belongs to 3 state run banks and is short term in nature
  • Fund considering selling some assets (Turkcell & Turkish Airlines)
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.