Turkey’s current account deficit widened sharply at the end of last year, but the recent tightening of monetary policy means it could now start to narrow substantially. Elsewhere in the region, external shortfalls fell in 2013, which helps to explain why currencies – with the exception of the lira – have generally performed fairly well during the bouts of EM financial market turmoil over the past half a year.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.