“Winter is coming!” writes economist Ehsan Bashi, 0f the Man Institute.
According to the institute’s research, Turkey will need to find more than $30 billion in external financing until the end of March 2021.
Moody’s, in its most recent downgrade of Turkey’s credit rating, has also warned of an impending balance of payments débacle.
The central bank can no longer finance this debt with its reserves, as these are nearly depleted. Foreign...