Latest Reserve assets News

Moody's downgrades Turkey's rating to B2, negative outlook

Sep. 12, 2020 10:04 AM EDT

PARIS (AP) — Credit ratings agency Moody’s has cut Turkey’s debt ratings and said it maintained a negative outlook on the country. Moody’s Investors Services said in a statement late Friday that it downgraded the Turkish government's issuer and senior senior unsecured debt ratings to...

A damaged grain silo is surrounded by rubble and debris at the site of the Aug. 4 explosion that killed over 100 people, injured thousands and caused widespread destruction in the seaport of Beirut, Lebanon, Monday, Aug. 24, 2020. (AP Photo/Bilal Hussein)

Lebanon's central bank may stop supporting basic subsidies

Aug. 25, 2020 12:01 PM EDT

BEIRUT (AP) — Lebanon's central bank governor warned in an interview published Tuesday that the bank cannot continue using its foreign currency reserves to finance trade, signaling he may soon be unable to sustain subsidies on basic goods. In an interview with the French edition of the Saudi-owned Arab...