International finance
Central Bank’s reserves reach new record level
The latest data have shown that the Turkish Central Bank's gross reserves have climbed to a new all-time high.
The bank's gross reserves increased from $136.5 billion on Nov. 24 to $140.2 billion on Dec. 1.
Foreign currency reserves rose from $91 billion to $93.2 billion, while gold reserves climbed from $45.5 billion to $46.9 billion.
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Current account deficit at $5.4 billion
Türkiye's current account deficit has widened from $4.9 billion in March to $5.4 billion in April, the Central Bank has announced.
The deficit was $2.54 billion in April last year.
"Gold and energy excluded, the current account indicated net deficit of $480 million in April," the bank said.
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Greece’s current account deficit in the red
In the first major financial crisis of the 21st century which erupted in 2007-2008, and whose tsunami reached Europe's shores in 2010, five European countries failed to avoid bailouts: Greece, Ireland, Portugal, Cyprus and, in part, Spain. Of these, only one, Greece, had twin deficits - in its current account and its budget.
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Baerbock vs. Szijjártó: Ended with conflict
As reported by Sputnik, the reason for the disagreements is OTP Bank and the blocking of aid to Ukraine.
According to the words of four diplomats, during the meeting of foreign ministers in Brussels on Monday, Germany and Hungary quarreled over the role of the Hungarian bank in the Ukrainian conflict, writes "Politico" analyst Jacopo Barigazzi.
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Bank deposits post rebound in March
Deposits placed by the private sector increased by 2.318 billion euros in March, after a decrease of €1.456 billion in the previous month, the Bank of Greece said on Tuesday.
In a monthly report the central bank said that the monthly net flow of total deposits was positive by €2.98 billion in March 2023, compared with a negative net flow of €1.09 billion in February 2023.
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Türkiye’s current account deficit at $8.8 billion
Türkiye's current account deficit came in at $8.78 billion in February, falling from a deficit of $10 billion in the previous month, data from the Central Bank have shown.
In February 2022, the balance of payments showed a current account gap of $5.3 billion.
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IMF: Serbian economy has shown resilience in face of strong headwinds
BELGRADE - The Serbian economy has shown resilience in the face of strong headwinds from high food and energy prices, weak trading partner growth, and tight global financial conditions, the International Monetary Fund (IMF) said on Wednesday after its mission completed the first review under a stand-by arrangement with Serbia.
Current account deficit at $3.7 billion in November
Türkiye posted a current account deficit of $3.67 billion in November 2022, data from the Central Bank have shown.
The deficit was $352 million in October and stood at $2.1 billion in November 2021.
"Gold and energy excluded the current account showed a net surplus of $5.3 billion," the Central Bank said.
Turkish companies ‘resilient to shocks’
The Turkish corporate sector has been able to handle the economic turmoil well, investment bank Jefferies has said in a recent report that suggests it is in much better shape to manage any shock adjustment.
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Default: For the First Time in a Century, Russia has Not Repaid its Government Debt in Foreign Currency
For the first time since 1918, Russia has failed to repay its government debt in foreign currency, according to Bloomberg.
For months, Russia has wavered on the brink of default, today is the culmination of the financial battle that the United States and other countries are waging against the Kremlin over the invasion of Ukraine.