External borrowing costs ‘tolerable,’ says Isbank

Dünya Executive - - OVERVIEW -

Isbank, Turkey’s largest non-state lender, has seen its short-term external borrowing costs increase by 30 to 40 basis points since Turkey’s sovereign debt was cut to junk status. It is a level that remains “tolerable,” Chief Executive Adnan Bali said at Uludag Economy Summit the previous week. Political uncertaint­y is weighing on Turkey’s economy ahead of the April 16 constituti­onal referendum, Bali said, adding speculatio­n of another election has made it difficult for investors and market players predict political developmen­ts.

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