The Turks are getting a blast > has been brewing for a while now & will start defaulting in their loans very very ..Could amount to over 800+bill ? in USD owed by them ...Eragon has no idea along with a lot of others ? ..watch China very very close ..unless they Trade deal with the US they'll start to collapse in a heap ...A lot of unmasked debut in China
We all know what happens when ya cash flow dries up & all the NPL & Debut hits you right up the A at a 100 MPH
Everyone wants the USD
Based on the most recent available data to the end of March, Goh said Turkey’s foreign currency-denominated debt pile amounted to $US437.7 billion — equal to around 50% of nominal GDP. But that was when Turkey’s exchange rate with the US was around 3.96 lira per US dollar. A short time ago the USD/TRY was trading at around 6.4, after briefly spiking above 7 earlier this week.
“Based on the current exchange rate, the ratio has likely risen closer to 88% of GDP,” Goh said.
