ISTANBUL
Global rating agency Fitch Ratings announced Tuesday that Turkey's adoption of anti-terrorism financing legislation last week reduced the risk of suspension from the Financial Action Task Force (FATF).
"Had it restricted market access, FATF suspension could have increased Turkey's vulnerability to an external financing shock and reduced the benefits it has received from its strong fiscal financing options and debt-management capacity" was stated by Fitch.
Reminding that FATF had set a deadline of 22 February for Turkey to adopt legislation, it was stated, "Turkey's low savings rate means it needs to run current account deficits and secure external funding to finance investment and growth. Turkey has been able to roll over debt and attract net inflows despite volatile external conditions during the financial and eurozone sovereign debt crises."
The National-100, main index of the Istanbul Stock Exchange (ISE), increased to 78,500 points known by the analysts as psychological threshold,following the statements of Fitch.
