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Moody's: Turkey Needs Credible Economic Plan to Avoid Downgrade

Turkey needs to put a comprehensive and credible economic plan in place if it is to avoid another cut to sovereign credit rating, a senior Moody's sovereign analyst said on Thursday. New analysis from the rating agency shows Turkey's recession, the slump in the lira, upcoming refinancing pressures and dwindling reserves have pushed it to right near the top of its worldwide external vulnerability index. "Failure to put forward a credible broad-based plan to address the...

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