Marcello Minenna delves into the damage of 20 years of ‘Erdoganomics’
Twenty years of ‘Erdoganomics’, with double-digit inflation – averaging over 15% and peaking at 80% based on Turkstat figures – have undermined not only the autonomy of the Central Bank of the Republic of Turkey (CBRT), but also its room for manoeuvre and its influence over economic policy.
The lira is no longer the de facto reference currency in Turkey, since more than 70% of deposits in the Turkish banking system are denominated in US dollars or euros or otherwise tied to these currencies.
The
Most read articles loading…
Back to Top
You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.
You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.
You are currently on corporate access.
To use this feature you will need an individual account. If you have one already please sign in.
Alternatively you can request an individual account
.
by :
Source link
