ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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A Private Debt Story

Republic of Turkey Hires McKinsey & Company

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About four years ago, I penned an article in this column titled, “A Sovereign Debt Story: Republic of Argentina vs NML Capital” (EPW, 17 May 2014). Many things have happened since then and it is time to write a private debt story now, Turkey’s story.

Turkey and Argentina are twins in the sense that these countries suffered from almost simultaneous financial crises both in 2001 and 2018. Both are currently suffering from currency crises with potential spillover to the rest of the emerging markets, and there are those who argue that these twins may have triggered a crisis in the emerging markets in 2018.

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Updated On : 15th Oct, 2018
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