Moody’s cut Turkey’s sovereign credit rating deeper into “junk” territory on Friday, saying the risk of a balance of payments crisis continued to rise, and with it the risk of a government default. Moody’s downgraded the rating to B1 from Ba3 and maintained a negative outlook. It had previously cut the rating to Ba3 from Ba2 in August last year. https://www.reuters.com/article/us-...-to-b1-ministry-challenges-move-idUSKCN1TF2OC The Sultan's desire to make Turkey great again flushes in the toilet
Turkey default = world wide economic downturn? Will trigger American recession? It’s possible. And Trump’s tariffs aren’t helping.
Moody's are used to manipulate country's who won't conform. Look at South Africa, the left it on BAA3 - stable outlook this country is on the brink of collapse...ALL of its State owned enterprises are billions in debt and the power grid is failing... but it's rated better than Turkey yeah... what can you say Moody's again skips rating review of SA's sovereign debt https://www.fin24.com/Economy/moodys-again-skips-rating-action-on-sas-sovereign-debt-20190330
I doubt Turkish recession can cause worldwide economic downturn. Local Russian trolls claimed the same about Russia, whose economy has been in deep stinky toilet (paRussia) for the last several years and we are doing just fine.
