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Turkey current account deficit rises as reserves are sold, Brad Setser warns

Turkey current account deficit rises as reserves are sold, Brad Setser warns
Turkey faces deficit and reserves stress

Brad Setser highlights that a rising current account deficit financed by the sale of reserves is a clear sign of financial vulnerability.

Setser points to Turkey as an example, noting that the country is triggering alarm bells due to this trend.

Setser has previously argued that China is not reducing its reliance on the dollar, but instead increasing dollar holdings amid ongoing debate about global capital flows, according to his recent commentary. In another analysis, he described how first-quarter 2025 trade data classified gold imports and exports, highlighting distinctions in official reporting on metal versus non-monetary gold transactions. These posts add context to Setser’s recent warnings on current account risks.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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