Turkey has become the leader among the emerging G20 countries! Turkey has become the country that provided the most liquidity support to its citizens among the G20 emerging economies according to GDP during the Covid-19 pandemic. After leaving the world giants behind, Turkey has become a leader with the liquid support it provides to its citizens! Turkey has taken control during the coronavirus epidemic which is the biggest global health crisis in history.
Turkey – G20 Economies
According to the IMF Report, with the liquidity provided during the epidemic, Turkey has become the country that provided the most support to its citizens. With the 9,4% liquidity support provided by Turkey, Turkey has become the leader among the emerging G20 countries. Countries such as China (1,3%), Russia (1,5), and Brazil (6,2) have remained behind with the liquidity support they provided during the epidemic.
Turkey’s Effective Measures in Fighting Against the Epidemic Draw Attention
Turkey leads the G20 emerging economies list during the fight against the epidemic. There have been restrictions in economic life to prevent the negative effects of the epidemic during the pandemic crisis. To minimize the effects of the coronavirus and prevent its spread, there have been measures such as quarantine.
Opportunities such as Loans and Debts Restructuring
All world economies and commercial activities have come to a standstill during the Coronavirus epidemic. As millions of people have lost their jobs all over the world, the international supply chain has been in jeopardy.
Turkey also has taken the economic and commercial crises under protection through the support and incentives provided to the citizens. There has been also a restructuring for citizens’ loans and debts. Rescheduling and refinancing have been provided for the interest and principal payments of the companies whose cash flows have been affected by the epidemic.
Also, while providing liquidity support, different incentives are provided to citizens through policy rate changes and low-interest loan opportunities.
Capital Support of the Turkey Wealth Fund to Companies
Longer repayment credit cards have been provided. State banks such as Ziraat Bank, Halkbank, Vakifbank have organized loan campaigns for housing purchases and consumer expenditures.
Moreover, capital support has been provided by the Turkey Wealth Fund for companies affected by the coronavirus process.
BlueBay Asset Management London, Timothy Ash: “Turkey Has A Big Fiscal Space”
According to the statements of BlueBay Asset Management London, Senior Market Strategist Timothy Ash, Turkey has a big fiscal space considering its GDP and low debt ratios.
Singapore Rogers Holding and Beeland Interests President Jim Rogers is one of the founding partners of Quantum Fund. He announced that Turkey is one of the countries such as England, America, and Japan that take strong measures to protect their citizens from the pandemic disaster. He also stated that Turkey has done more than many countries.
It has provided strong support and incentives to its citizens during the epidemic process with semi-financial transactions and restructuring such as loan payment delays. Also, Rogers stated that Turkey continues its financial discipline with equity and liquidity supports during the epidemic process.