(ANSAmed) - ISTANBUL, SEPTEMBER 16 - Turkish president Recep
Erdogan has accused rating agencies Moody's Investors Service
and Fitch Ratings of political motives in their assessments of
the Turkish economy, and warned Ankara could cut its ties with
them, daily Hurriyet online reports today. Both Moody's and
Fitch have in recent weeks warned of the potential impact of
continued political uncertainty following former prime minister
Erdogan's victory on August 10 in the country's first direct
presidential election. Local media quoted Erdogan as telling
reporters on his plane back from a visit to Qatar late yesterday
that such statements were politically motivated rather than
based on assessments of the economy. "We stopped our cooperation
with Standard&Poor's and if they continue on this path, I can
tell the prime minister to stop cooperation with these two
also," the Hurriyet daily quoted Erdogan as saying, although he
added: "We haven't reached that point yet." Fitch, which rates
Turkey BBB- with a stable outlook, said last Thursday that the
Central Bank may face growing political pressure to cut interest
rates despite rising inflation in the run-up to a general
election next June. Moody's, which has a Baa3 rating on Turkey
with a negative outlook, warned last month that Erdogan's
victory in the presidential election did not resolve the
country's credit challenges and that uncertainty would persist.
(ANSAmed).
(ANSAmed).
