Governments in Turkey and Nigeria have started to turn away from unorthodox economic policies in recent weeks, and in both cases currencies have been allowed to move closer to fair value. The key thing to watch next is whether central banks in both countries raise interest rates sharply to try to tame inflation. Even so, we’re not yet convinced that these developments represent a clean and long-lasting break with the past.
In view of the wider interest, we are also sending this Emerging Markets Economics Update to clients of our Emerging Europe and Africa services.
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