As the clock ticks for crucial reviews of the Turkish economy by major credit raters, the country’s top leaders are already fuming at the agencies. President Recep Tayyip Erdogan set the tone last week, targeting Fitch Ratings and Moody’s Investors Service.
“Turkey faces no risk of an economic crisis. The [agencies’] statements are politically motivated. They are void of any economic and scientific basis,” Erdogan told journalists on a flight back from Qatar. “They’ve done it before, and I severed ties with Standard & Poor’s. If they go on with this attitude, I’ll tell the prime minister to sever ties with them as well. We’ve gained nothing from them. We owe them nothing for where we stand today. Both you and I are aware of what’s going on behind the curtains.”