The situation in Turkey remains uncertain, with continued pressure on the country’s currency exacerbating macroeconomic vulnerabilities. At this time, it is impossible to predict where the exchange rate will go, at what level it will stabilize, and when, as negative financial market sentiment and the government’s ineffective responses have created a protracted currency crisis. Companies need to focus instead on building resilience within their Turkey businesses. They also need to understand the potential spillover effect on their business outside of Turkey.
Earlier this week I appeared on CNBC to discuss ongoing Lira volatility and Turkey’s economic predicament. You can watch the full clip on CNBC here.
To learn more about what will happen next, the broader risk to other global markets, and suggested actions for your business, please contact us and we would be happy to share our full analysis.