![]() ![]() Many big companies have euro or dollar-denominated loans, and their repayment in the coming months may pose problems with the devaluation of the Turkish currency, analysts warned. in this context, the lira will not be returning to former levels," independent Economist Mustafa Sonmez told Xinhua. ![]() ![]() "In the upcoming 12 months period, Turkey has to repay (external) debts amounting to $167 billion, thus it needs foreign currency. Turkey's large short-term external debts and low foreign currency reserves mean that it is one of the most vulnerable emerging markets to tighter external financing conditions.
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