Turkey is one country we are currently watching with interest. The precipitous fall in US $ Foreign Exchange Reserves as well as the recent decline of the currency through 8 to the US dollar, is making many investors sit up and take notice.
Not only has Coronavirus decimated the tourist industry, a significant source of foreign exchange, but it is also putting the Government fiscal situation under increased strain.
The on-going adventurism of Turkish foreign policy, sabre rattling, or merely a tactic to divert domestic attention away from the unravelling economy, is creating a stir in Europe, Russia and the United States. One argument is that this is a land grab ahead of the expected change in President in the US and a likely re-set of relations under Biden.
Either way, the geo-political dimension to Turkey is creating some very interesting potential trades.