Financial crises
Short-term external debt rises
Türkiye's short-term external debt increased by 3.5 percent from December 2022 to reach $152.8 billion in January, the Central Bank has said.
Banks' short-term external debt stock rose by 4.6 percent to $62.9 billion, while other sectors' stock increased by 2.8 percent to $56.2 billion, data showed on March 17.
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Goldman Sachs raised the Likelihood of a US Recession
Goldman Sachs Group said the probability that the United States will enter a recession this year now stands at 35 percent, compared with 25 percent in the big investment bank's previous forecast.
The bank noted that the upwardly revised likelihood reflects "increased near-term uncertainty around the economic effects of the stress on small banks."
Bulgaria’s Finance Minister: There is No Risk of Bankruptcy
"There is no risk of bankruptcy of the state, nor of the intervention of the International Monetary Fund and the need to take out new debt." This was stated on the National Television by the Acting Minister of Finance Rositsa Velkova. Her comment was on the occasion of the two scenarios of the long-term budget forecast leaked to the media yesterday.
Demand for corporate credit rises
Demand for loans by Greek small, medium-sized and large enterprises is expected to increase further, while demand by households is expected to remain unchanged in the first quarter of 2023, the Bank of Greece said on Tuesday.
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Bond issue a multiple success
At a single stroke on Tuesday, the Public Debt Management Agency managed to beat the volatility and pressures expected to be caused by the continued tightening of European Central Bank monetary policy and the national elections, and to cover 50% of the 2023 loan program with its first market foray of the year.
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Staikouras, FinMin of the Year for Europe
Christos Staikouras was named Finance Minister of the Year 2023 for Europe by The Banker magazine of the Financial Times group, whose awards celebrate the officials that have best managed to stimulate growth and stabilize their economy.
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Türkiye's inflation rate slows sharply to 64.3%
Türkiye's annual inflation slowed sharply from 84.4 percent in November 2022 to 64.3 percent in December after peaking to 85.5 percent in October last year, data from the Turkish Statistical Institute (TÜİK) have shown.
The monthly increase in consumer prices also eased from 2.88 percent in November to 1.18 percent.
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Property boom coming to an end, report warns
The property boom is coming to an end, according to a study by Swiss bank UBS, with Frankfurt and Toronto topping the list of imbalanced markets.
The bank's annual study of the world property market looked at prices in 25 major cities across the globe.
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South Korea raises interest to tame inflation
South Korea's central bank yesterday hiked its key interest rate by half a percentage point to a decade high as it tries to tackle surging inflation and support the plunging won.
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Fitch affirmed the BB rating for Greece, maintained a positive outlook
Fitch maintained Greece's credit rating two notches below investment grade, maintaining the positive outlook.
As Fitch explains in the report justifying its decision, the high debt and non-performing loans offset the positive elements that would justify an upgrade.