OREANDA-NEWS  In the medium term, Turkey is unlikely to face default, and the low probability of such a scenario is indicated, in particular, by the estimates of the international rating agency S&P. This was stated by Boris Kopeikin, First Deputy Director General of the Center for Strategic Research (CSR). His words are quoted by the Vedomosti newspaper.

The analyst believes that there are currently no good reasons for the imminent default of the Turkish economy. He recalled that the country's sovereign credit rating is now at level B. Such an assessment implies the possibility of fulfilling financial obligations.

In addition, this credit level has been maintained since November 2023 with a positive outlook. Against this background, the probability of Turkey's default during 2024 is estimated at no more than 4-5 percent. At the same time, in the long term (on the horizon of 20 years), issuers with a B rating find themselves in default in about a third of cases, Kopeikin summarized.