Jon Gorvett
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.
UAE banks face multiple challenges
**Written and disseminated among select contacts on April 15**
Substantial government stimulus measures will help the UAE’s banking sector navigate the impact of the coronavirus crisis, but doubts remain over whether they will effectively translate into swift economic recovery once restrictions are lifted. Lenders certainly have the ability to lend – but whether they have the willingness to lend is the key consideration.
Rachna Uppal | Senior Analyst Business & Finance | r.uppal@castlereagh.net
