Escape artist or fall guy?
New hope for corporate bonds
In mid-February, the hottest topic of conversation among Turkish investment bankers centred on the long-running saga of Turkey’s negotiations over a new standby agreement with the IMF. For many bankers the successful negotiation of a new arrangement will play a key role in determining Turkey’s economic fate in 2009. Mehmut Besimoglu, chief economist at Oyak Securities, says that uncertainty over the scale and scope of any IMF deal is acting as a brake on domestic and international investor sentiment towards Turkey.
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