iShares MSCI Turkey (NYSEArca: TUR) was one of last year’s high-flying exchange traded funds (ETFs). Lately it has succumbed to a few stumbling blocks, but a vote of confidence in the country’s economy could turn it around…or could it?
The International Monetary Fund (IMF) heaped praise on the Turkish economy recently, citing successful policies and a general kind of growth in the right direction. It’s not all sunshine and roses, though: Turkey has a current account deficit and an overvalued currency that, if left to fester, could eventually harm the economy, says Turkish Weekly. [Eastern Europe ETFs Hold Steady for Now.]
For now, though, Turkey is being held up as an example for another troubled economy.
Landon Thomas Jr. for The New York Times reports that democracy, Islam integration and colorful economics make up the three-pronged success story for Turkey, and those are all things the citizens of Egypt are trying to accomplish. [Turkey ETF: Looking for a Turnaround.]