Foreign Affairs

TexasTowelie

(116,556 posts) Tue May 28, 2024, 05:41 PM May 2024

Turkey in Deep Trouble as Crisis Accelerates, Inflation Soars, Lira Crashes & Interest Rates Hit 50% - Joe Blogs

Following his election win in May 2023 President Erdogan appointed a new Head of the Turkish Central Bank who decided to change the Economic Policy. Over the past 9 months Interest Rates have been increased to 50% however rather than reducing inflation it has actually caused inflation to rise to a 16 month high of 69.8% and also caused the Lira to CRASH. In this video I provide more details on the current situation, discuss WHY the new policy has not worked and look at the outlook for the Turkish Economy.

Chapters:
0:00 Intro
2:59 INTEREST RATES
6:57 INFLATION
8:58 FOOD INFLATION
11:46 BALANCE OF TRADE
13:42 COAL
17:37 INVESTMENT DEALS
19:39 SMUGGLER
21:58 SUMMARY & CONCLUSION

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Turkey in Deep Trouble as Crisis Accelerates, Inflation Soars, Lira Crashes & Interest Rates Hit 50% - Joe Blogs (Original Post) TexasTowelie May 2024 OP

I just returned from Turkey on May 17. The only thing noticeable about their inflation was the difference sinkingfeeling May 2024 #1

sinkingfeeling

(52,964 posts)

1. I just returned from Turkey on May 17. The only thing noticeable about their inflation was the difference

Reply to TexasTowelie (Original post)

Tue May 28, 2024, 05:57 PM

May 2024

in listed menu prices and the actual charges. The rate of exchange improved while I was there going from 1USD equaling 33.21 Lira to 1USD bringing only 32.24 Lira. That was over a 16 day span.
Turkey is a very interesting country in terms of history and geology. I was kind of surprised by the websites the government had blocked, like Flickr and Postimage.

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