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M. Continuo

Turkish political uncertainty to persist until 2015 election - Moody's


    ISTANBUL (Reuters) - Tayyip Erdogan's victory in Turkey's presidential election does not resolve the country's credit challenges and political uncertainty will remain until at least the conclusion of parliamentary elections next year, Moody's said on Friday.

    The ratings agency said the credit implications of Sunday's presidential election would not be clear until a new prime minister is appointed in late August and general elections, which are due by next June, have been held.

    "Until the political landscape reaches some stability, the country?s structural reform agenda is likely to suffer, leaving Turkey exposed to potential shifts in international market sentiment," Alpona Banerji, vice president and senior analyst at Moody?s, said in a note.

    (Reporting by Ece Toksabay; Editing by Nick Tattersall)