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issuance. This deleveraging process helps explain ongoing growth deceleration.”
5.2.4 Gross intl reserves
The analysts raised their eyebrows at Ankara's most recent weekly data on net international reserves . They fell to $26bn on March 22 from $29.2bn at the start of 2019.
Erdogan lashes out at FT over report on Turkish central bank’s ‘enhanced’ FX reserves. Turkish President Recep Tayyip Erdogan has lashed out at the Financial Times after it reported that the Central Bank had bolstered its foreign currency reserves with short-term borrowed money, leading to concerns that Turkey might not be able to defend itself in the event of a rerun of the currency crisis it suffered last summer.
Moody’s frowns on Turkish central bank's use of reserves to prop up lira.
The Turkish central bank’s use of reserves to prop up the Turkish lira poses questions about its transparency and independence and is credit negative, Moody’s Investors Service said on April 2.
57 TURKEY Country Report May 2019 www.intellinews.com