S&P signals a possible Turkey rating upgrade, Libya's parliament ratifies the maritime deal with Ankara, Sergen Yalçın is named national team coach, and four countries prepare a defence cooperation memorandum.

In this episode

• S&P Global Links Possible Turkey Rating Upgrade to Disinflation and Reserves
• Libya parliament ratifies maritime deal, easing objections and strengthening Turkey's case
• Sergen Yalçın appointed Türkiye head coach on four-year contract
• Turkey, Qatar, Pakistan and Indonesia to sign defence industry cooperation deal

Transcript

Deniz: Good morning and welcome to Turkey Brief Daily. It's Wednesday, October 21st. Today: ratings, the Mediterranean, the football pitch, and a four-nation defence handshake.

Maya: Morning! Nice spread. Where do we start?

Deniz: Let's start with the economy. S&P Global Ratings has laid out a clear path for a possible upgrade of Turkey's credit rating. The agency kept its BB-minus, B rating with a stable outlook, but its lead analyst said that stronger-than-expected disinflation, continued reserve accumulation, and sustained confidence in the lira would be compatible with a higher rating.

Maya: That's a pretty specific roadmap. What are they forecasting in the meantime?

Deniz: Inflation averaging just under 31% this year and around 22% by 2027. Growth at 3% this year — that's 0.4 points below their previous call, mainly because of the war in the Middle East. But by 2027 growth is expected to pick up again to 3.7%.

Maya: Hm, that's a long stretch between now and 2027. Let's turn to the Mediterranean.

Deniz: Right. Libya's House of Representatives has unanimously ratified the 2019 maritime memorandum with Turkey. Analysts say the vote removes part of the basis for objections raised by Greece and Egypt and gives Ankara a firmer legal footing in the Eastern Mediterranean.

Maya: So this is more than just paperwork?

Deniz: Exactly. It turns the deal from something only one Libyan government backed into official Libyan policy. And analysts note it opens the door to wider energy cooperation with Turkey.

Maya: Got it. Okay, quick pivot — football.

Deniz: Yes. Sergen Yalçın has been appointed head coach of the men's national team on a four-year contract. He becomes the 48th person to hold the post. He takes over after a disappointing group-stage exit at the 2026 World Cup and four straight Nations League defeats under Vincenzo Montella.

Maya: A huge name in Turkish football. What's the mood?

Deniz: He's well known from his playing days and his coaching career, but expectations will be very high. And finally, defence. Turkey, Qatar, Pakistan and Indonesia are expected to sign a memorandum of understanding in Qatar today.

Maya: Four countries, that's a wide spread. What does it cover?

Deniz: Defence technologies, joint research and development, component production, technical training and sharing engineering experience. It basically converts existing bilateral ties into a multilateral framework.

Maya: Sounds significant. That's all the time we have.

Deniz: Right. For the full stories, head over to turkiybrief.com. Thanks for listening, and see you tomorrow.

Voices in this episode are AI-generated. Stories are based on Turkey Brief's reporting.