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Erdogan U-Turns: Why is the Lira Still Collapsing? [Video]

Categories
Middle East Economy and Markets

Erdogan U-Turns: Why is the Lira Still Collapsing?

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For the past year, Turkish President Erdogan has refused to raise interest rates, despite the collapsing currency and soaring inflation. However, following his re-election, he seems to have U-turned on his decision that saw the banks finally raise rates. In this video, we explore the consequences of his policies, the government’s attempts to stabilise the economy, and how the recent rate increase could affect the Turkish economy.

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1 – https://www.duvarenglish.com/chamber-of-commerce-reports-istanbul-inflation-rate-as-73-percent-news-62137
2 – https://enagrup.org/
3 – https://www.ft.com/content/246951b4-1bcd-4144-a9c9-33f9f6c3e107
4 – https://www.france24.com/en/europe/20230529-from-inflation-to-nato-turkey-s-erdogan-has-stacked-in-tray-for-last-presidential-term
5 – https://www.bloomberg.com/news/articles/2023-05-18/turkish-fx-reserves-shrank-by-record-in-week-before-elections
6 – https://www.bloomberg.com/news/articles/2023-05-18/turkish-fx-reserves-shrank-by-record-in-week-before-elections
7 – https://www.reuters.com/world/middle-east/turkish-cenbank-data-shows-3-bln-inflow-abroad-bankers-2023-06-08/
8 – https://www.ft.com/content/246951b4-1bcd-4144-a9c9-33f9f6c3e107
9 – https://www.politico.eu/article/end-recep-tayyip-erdogan-economics-turkey-double-interest-rate-inflation/
10 – https://en.wikipedia.org/wiki/Hafize_Gaye_Erkan
11 – https://www.ft.com/content/4d6a4a42-e000-4cc7-9541-70fd15e405a0
12 – https://www.ft.com/content/4d6a4a42-e000-4cc7-9541-70fd15e405a0
13 – https://asia.nikkei.com/Economy/Turkey-raises-interest-rate-to-15-from-8.5-to-fight-inflation

00:00 – Introduction
01:03 – Turkey’s Efforts to Protect the Lira
04:09 – The U-Turn
06:34 – What Happens Next
07:19 – Sponsored Content

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