Analyst says Turkey's positive outlook highlights stronger resilience against shocks

ISTANBUL (A.A) - December 1, 2011 - Positive outlook on Turkey's Ba2 sovereign debt rating reflects resilience of the country's economy against the global financial crisis, a senior Turkey analyst from Moody's has said. The resilience Turkey had shown during the global crisis and the government financial strength is the reason for the positive outlook, Sarah Carlson said.   Carlson, however, warned that internal and external imbalances remained at a high level, which risked downward pressure on the positive outlook on the credit rating, adding that further deterioration in those imbalances would exert pressure on the rating itself.  Carlson said Turkey's current account deficit was the most important challenge as it makes the country vulnerable to balance-of-payment shocks, adding that external imbalance also forced policy makers to maneuvered within a limited margin.