Turkey's President Recep Tayyip Erdogan attends a meeting with South Korea's President Moon Jae-in at the presidential Blue House in Seoul, South Korea May 2, 2018. (Ed Jones/Pool via REUTER)
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Turkey Wednesday lashed out at a debt downgrade by ratings agency S&P as dubiously timed less than two months ahead of elections and based on lacklustre analysis.S&P Tuesday dropped Turkey's foreign currency debt ratings to a speculative 'BB-/B' for long- and short-term issues respectively, citing deteriorating finances and rising inflation.Deputy Prime Minister Mehmet Simsek, the government's pointman on the economy, accused S&P of deliberately bringing forward a ratings assessment initially planned for August to before June 24 polls.President Recep Tayyip Erdogan has announced snap presidential and parliamentary elections June 24 instead of November 3, 2019 to fully legalise a new executive presidency boosting the powers of head of state.
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