New guarantees to Turkey on hold

Currently, the Turkish markets are in turmoil, and EKF has decided to put new guarantees to projects in Turkey on hold.

The last week has seen a sharp fall in the value of the Turkish lira. On Friday 10 August the lira depreciated by 16 per cent against the US dollar, and Monday morning the lira hit new bottom levels. 

Several factors are causing the market unrest including an escalating political dispute between Turkey and the US.

​Due to the unrest, EKF has decided to wait and see what happens, suspending cover for Turkey. 

For more information please contact Lynge Gørtz Smestad, Senior Analyst at +45 35 46 27 11 and

14 august 2018