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Turkey’s Economic Gains Could Be Hurt by Politcal Risks, Moody’s Warns
October 24, 2025
Moody’s warned that escalating political tensions in Turkey could endanger the economic gains achieved. Despite a “significant” improvement in Turkey’s credit profile over the past two and a half years, which led to a three-notch sovereign rating upgrade, Moody’s now believes this positive momentum has “reached a plateau”. The current political turbulence, highlighted by legal crackdowns on the main opposition and the potential risk to high-profile officials threatens to “reverse some of the gains in macro stability”, it said. The rating agency notes that political unrest, such as street protests, has a history of unsettling investor sentiment, which can hurt the lira and complicate the central bank’s monetary policy. They noted that maintaining the lira’s stability was crucial to preventing dollarization. Further, even with policy normalization, inflation remains a major challenge, Moody’s noted.
Türkiye’s dollar bonds were trading stable with its 9.875% 2028s at 110.05, yielding 5.02%.
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