Imtilak Properties

A few days ago, Moody's Corporation, an American credit rating agency, launched a broad campaign to undermine the Turkish economy by reducing the degree of Turkey's credit rating. Later on, several reports came up to affirm that the Turkish intelligence services got documents that prove a relationship between the terrorist organization of Fethullah Gülen, which its leader is based in the United States of America, and between this campaign, which aims to paralyze the Turkish economy by trying to block the foreign investors and foreign capital from heading to Turkey.

This decision of Moody's was confronted with wide reactions came by the government official and non-official economic institutions of Turkey where some officials and representatives from the economic authorities stressed that this decision is a disguise, basing on no scientific or practical reality, and the goal of Moody's behind this decision is to achieve what the failed coup could not achieve; to decrease the power of Turkey through fighting its economy.

In spite of the slight consequences witnessed by Turkey after the reduction decision, it was noted that the Turkish markets have recovered and returned back to normal, to stabilize the situation as it was before the reduction decision.

Government reaction after Moody's rating

Mr. Mehmet Şimşek, Deputy Prime Minister for Economic Affairs, stressed that Moody's decision will not deter the resolve of Turkey to continue the constructive reforms in the economic sector, and Turkey will move forward in the implementation of the giant projects been planned ahead of time to be delivered on time.

In this regard, the Turkish Treasury proceeded, after the reduction decision, to issue new instruments, as this reflects the position of foreign investors from the country's economy. And it was noted that the demand for instruments was at 7 times the offer, the thing that proves the trust foreign investors have in the country's economy.

Western press praising the Turkish economy

On the other hand, Financial Times, a British newspaper competent in economic affairs, published Analytic news entitled "Turkish economy maintains its attractiveness for foreign investors." The news came after the decision of the credit rating agency again to show the lack of credibility that characterized the agency in its reduction decision.

The news, also, reviewed the developments in Turkey and its impact on the country's economy, noting that the Turkish economy has a very high performance comparing to the economies of the BRİCS (Brazil, Russia, China, India, and South Africa), and in spite of these negative developments, the economy of Turkey still maintains the investment attractiveness in the eyes of the investors.

The News also mentioned the viewpoint of the British economic analyst, Friedman Jon Osman, from the British institution "Strozzi Frederic", who asked the following question: "If we assumed that investors are wary of the dangers, is there an alternative?" He added: "Many of the fast-growing global markets faced much more difficulties than that the Turkish markets faced, and international investors realize that the Turkish markets undergoing a difficult time, yet, they are highly confidence in these large markets, and this confident keeps growing day after day."