Once a premium destination for overseas investors, Turkey’s power sector has recently been struggling with the impact of lower-than-expected growth rates, partial market liberalisation and fixed, long-term natural gas contracts. Power generation firms face further stress as the economic impact of the pandemic bites. Efforts to arrange a new debt restructuring deal have been delayed by the virus and wider economic woes, casting uncertainty over future demand. However, the sector retains some high-grade assets, however, which may attract future investor interest.
The coronavirus pandemic is having a devastating effect on migrant workers in GCC member states. Lacking employment and social protections of the native populations, foreign workers are more likely to contract the disease and get the worst possible care. Moreover, they are the most vulnerable to the economic toll exerted by containment measures and the oil price collapse. The response of governments and employers has been predictably harsh.