Erdogan: Take an operation against Moody

Turkish President Recep Tayyip Erdogan has promised he will take measures against international rating agency Moodys after parliamentary elections, as company analysts put Turkey in lower quotas.

By God's will, we will conduct an operation against Moody after June 24,” told Erdogan, the Ankara-based state agency “Anadolu”.

“Mlady is making unnecessary statements despite the fact that we are not members of it. Such a shame. ”

According to the Turkish president, the US rating agency was putting Turkey in a difficult situation.

On June 1st, the rating agency said the country's Ba2 assessments were at risk of a lack of clarity regarding Turkish economic policy.

Decision reported between “Waiting that the latest erosion in investor confidence in Turkey will continue if it is not addressed through actions of reliable policies following the June” elections.

The agency also said that “the credibility of Turkish political institutions has been damaged by the lack of monetary policy efficiency, reflecting political interference in the policy drafting process. ”

Last month, Turkish lira hit a record 4.92 against the US dollar, forcing the country's central bank to increase rates to deal with a potential currency crisis. In spite of that, Turkey managed to raise $4 billion through the sale of bonds earlier this year, according to the country's treasury.

However, investors are alarmed by the upcoming elections and Erdogan's promises to take on stricter control of monetary policy.