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IIF’s chief economist: EM capital flows following lira drop are indicative of potential for contagion

August 15, 2018 by admin 0 Comments

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Institue of International Finance’s chief economist recently crossed the news wires saying the emerging market capital flows following Turkish lira drop were indicative of a potential for contagion, as reported by Reuters.

Key quotes

Obstacles for IMF program for Turkey are quite high as it would require higher interest rates, credit tightening.

Meanwhile, according to Turkish officials, President Erdogan held a phone call with German Chancellor Merkel and agreed that their finance minister would have a meeting soon. At the moment, the USD/TRY is down 4.15% on the day at 6.0840.

This article was originally published by Fxstreet.com. Read the original article here.