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Friday, June 30, 2006

After Losses, Turkey Faces Its Investors - New York Times

"After Losses, Turkey Faces Its Investors
Published: June 30, 2006

Hell hath no greater fury than an emerging markets investor scorned.
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Associated Press

Or so may have been the view of Durmus Yilmaz, the new governor of the central bank of Turkey earlier this week, when he faced a room full of disgruntled investors in Manhattan, many of whom were nursing heavy losses from a recent plunge in Turkish bond and equity markets.
Just last year Turkey was one of the world's best-performing markets, and foreign investors, seduced by a robust currency and quiescent inflation, invested there with abandon."

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