Turkish corporate bonds - a fundamental opportunity

A divided country

After a closely contested race, President Recep Tayyip Erdoğan won Turkey’s presidential election in May, defeating opposition leader Kemal Kılıçdaroğlu with 52.1% of the vote.

The result stretches Erdoğan's rule into a third decade, but the tight margin of victory indicates a divided country. Turkey is uniquely positioned geographically between East and West. Its size, population and strategically important location give Turkey major influence in the region. At the same time, it is faced with economic and social challenges, including a large current account deficit, a depreciating currency, high inflation, and the aftermath of the devastating earthquake that shook southern Turkey and Syria. Turkey faces currency woes following Erdogan re-election Infl...