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Turkey Should Focus on Reforms

Turkey Should Focus on ReformsTurkey Should Focus on Reforms

Turkey should focus on making economic reforms and promoting its strengths rather than blaming credit rating agencies for unfair rates, Timothy Ash, a London-based strategist at Nomura International, said. “Rating agencies are never very popular. They do a difficult job. There are objective and subjective factors but in the end it is a matter of opinion,” Ash said in an interview with state-run Anadolu Agency. “I don’t believe there is a conspiracy against Turkey by rating agencies,” he added. The Turkish economy has proven unexpectedly resilient to shocks and the way to go forward is to maintain economic reforms and promote economic strengths more clearly to global investors, Ash said. “Economic reform should be a number one priority … Turkey should be selling itself externally as a good place to do business. Do everything possible to attract foreign investment and trade, and show Turkey is open for business despite the July 15 (failed) coup,” he added.    

 

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