Central bank

Central Bank unveils new measures on COVID-19

The Central Bank of Turkey (CBRT) on March 31 introduced new measures to limit the economic fallout from the novel coronavirus pandemic.

The steps aimed to back monetary transmission mechanisms, banks' flexibility in liquidity management, uninterrupted credit flows to the corporate sector, and firms exporting goods and services.

Investment grade remains elusive

The recent health crisis is dampening hopes of a credit rating upgrade for Greece. According to Capital Economics economist Melanie Debono, "it is now highly unlikely that any government will be upgraded by the credit rating agencies in the near future, given that the world is on the verge of a deep recession. Greece is not immune from this."

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