Biggest G-20 Current Account Deficit Stalls Rally: Turkey Credit
By Emre Peker and Steve Bryant - Mar 12, 2012 6:01 PM ET
The biggest bond rally in emerging markets may be derailed by Turkey’s current-account deficit, the largest among the Group of 20 countries.
The deficit unexpectedly stayed at $6 billion in January compared with a year ago, central bank data published yesterday in Ankara showed. That undermined predictions by policy makers of an improvement and revived investor concern that Turkey may struggle to finance the gap. Global oil prices have risen more than 7 percent this year, raising costs in a country that imports nearly all its energy.
More:Biggest G-20 Current Account Deficit Stalls Rally: Turkey Credit - Bloomberg
