The framework agreements (FAs) have been an integral part of Türkiye’s response to economic turbulence since 2002. Since their recent reintroduction in August 2018 and until December 2021, they have enabled...
The COVID-19 crisis combined with the global repercussions from the Russian invasion of Ukraine exacerbated the stress on financial systems around the world. More than 150 countries introduced policy measures...
This paper conducts a simple stress test to gauge the ability of listed nonfinancial corporates to withstand shocks to earnings and receivables. It targets two basic accounting ratios that capture a firm’s...
The COVID-19 crisis has affected firms’ liquidity and balance sheet. Many firms are expected to become insolvent. The surge in the number of bankruptcy cases is likely to result in higher costs, longer...
State of emergency ends at end-May and a slow recovery thereafter (high downside risks do not change the policy response, but the severity of recession). Immediate impact: immediate sharp contraction...
State of emergency ends at end-May and a slow recovery thereafter (high downside risks do not change the policy response, but the severity of recession). Immediate impact: immediate sharp contraction...