Turkish lira banknotes are seen in this picture illustration in Istanbul, Turkey August 14, 2018. REUTERS/Murad Sezer/Illustration
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Turkey and Argentina may have put their currency crises behind them but a world of pain awaits their economies in the coming quarters, according to Moody's Investors Service.Gross domestic product in Argentina won't return to positive growth until 2020 as a result of the country's severe monetary and fiscal consolidation under an International Monetary Fund program, Moody's said.The IMF echoed Moody's warning, predicting that Turkish economic growth will slip to 0.4 percent in 2019 from 3.5 percent this year.Moody's sees Turkey's economy growing 1.5 percent in 2018 and contracting 2 percent the following year.
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