Central & Eastern Europe
Not long ago, Romania was synonymous with sluggish growth, underperformance and corruption. Analysts acknowledged its huge potential but said it wasn’t being realized.
During complex times for Turkey, banks, at least, can rest assured that their system is running smoothly, is well capitalized and well regulated.
The International Monetary Fund decided last month to alter its long-standing policy of not lending to countries with arrears to official creditors—national governments or agencies they sponsor—thereby enabling it to continue lending to Ukraine should it fail to repay on time a $3 billion bond due to Russia.
When the Justice and Development Party (AKP) swept elections in November, financial markets were focused neither on prime minister Ahmet Davutoğlu, nor on president Recep Tayyip Erdoğan. All eyes were on new deputy prime minister Mehmet Şimşek, the former Finance minister, who may be the only reformer within the largely statist AKP.