Category: Economy
$128 billion in forex reserves that were sold from the Turkish Central Bank’s (TCMB) reserves in 2019-2020 were used to meet a large amount of excess demand for foreign currency during the COVID-19 pandemic, Deutsche ...
Turkish President Recep Tayyip Erdoğan defended Wednesday his “risky but correct” economic policy of low interest rates as the central bank intervened in markets to prop up the falling lira, Agence France-Presse reported. Turkish households ...
The overnight appointment of Nureddin Nebati, who does not have a degree in economics, as Turkey’s new finance minister has prompted discussions about his credentials to steer the country’s deteriorating economy amid a currency meltdown. ...
(Bloomberg) — President Recep Tayyip Erdogan blamed a sharp slump in the lira on “money barons” attacking Turkey’s economy, vowing to pursue lower borrowing costs to turbo-boost growth and revive his flagging popularity ahead of ...
Turkish lira crisis spills over into opposition-held Syrian city that adopted the lira more than a year ago. Jamil Barakat says it was never easy to sustain a living in Syria’s northwestern Idlib town. But ...
(Reuters) – Turkish President Tayyip Erdogan has ordered an investigation into possible currency manipulation after the lira fell sharply to record lows against the dollar this week, the Anadolu news agency reported on Saturday. It ...
(Bloomberg) — Turkey’s President Recep Tayyip Erdogan defended his pursuit of lower interest rates to boost economic growth and job creation, pushing the lira to a new record low against the dollar. Turkey’s Central Bank ...
Imprisoned Kurdish leader Selahattin Demirtaş has said that the only way out of Turkey’s financial troubles is holding a snap election that would end the rule of the Justice and Development Party (AKP), local media ...
Investors and analysts have argued that there is little prospect of a lasting recovery for the lira unless Turkey’s central bank can somehow free itself from President Recep Tayyip Erdoğan’s unorthodox belief that high interest ...
Last month Turkey made it into the grey list of the Financial Action Task Force (FATF), the global money laundering and terrorist financing watchdog headquartered in Paris. Turkey now joins its close ally Pakistan in FATF’s crosshairs. ...