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| • Signs of progress in Istanbul’s capital markets |
Turkey has been the poster child of emerging markets banking for some time. A country that has been able to sustain solid growth throughout the financial crisis with inflation under control has tempted buyers for its banks and securities. Questions are now being asked about the sustainability of some of its financial ratios, especially about its ability to finance a high current-account deficit. More than that, political risk remains a concern, in spite of the recent election of Recep Tayyip Erdogan as president in August.
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