Fitch Ratings Boosts Turkey's Sovereign Rating to B+: A Sign of Economic Recovery

Fitch Ratings has upgraded Turkey's sovereign rating to B+ from BB-, reflecting confidence in the country's economic policies aimed at controlling inflation. This upgrade is attributed to significant improvements in Turkey's foreign exchange reserves and a stable economic outlook. The agency noted a decline in the use of the dollar among citizens and an increase in capital inflows following local elections, but also cautioned about potential risks related to political resistance to higher interest rates.