Fund inflows to Türkiye will gather pace, says Şimşek
ANKARA
Investor confidence will be further strengthened and foreign fund inflows into Türkiye will accelerate, Finance Minister Mehmet Şimşek has said.
“The results of the economic program we are implementing will be clearly seen as of the second half of 2024,” Şimşek wrote on the social media platform X on Nov. 15, noting that Türkiye’s five-year credit default swaps (CDS) declined to its lowest level in two and a half years.
This will limit the downside risks of the disinflation program to the short-term growth outlook, the minister said.
In his remarks last week, Şimşek stressed that the government’s new medium-term program was prepared to achieve macro-financial stability, and significant progress had been made to that end in the past couple of months.
“Along with the increasing confidence in our country, we see the reflection of the improvement in external financing opportunities in the strengthening of reserves.”
The Central Bank’s latest balance of payments data showed that foreign inflows into portfolio investments which started in June continued in September.
Portfolio investment recorded a net inflow of $1 billion in September. Non-residents made net purchases of $90 million in government domestic debt securities, while their net purchases in debt securities amounted to $1 billion.
Earlier this week, the Central Bank announced that it will organize “Investor Days.”
The first Investor Day will be held on Jan. 11, 2024, in New York.
At the events, presentations will be made on issues such as inflation, monetary policy, financial markets and banking, and technical questions will be answered, the Central Bank said.
