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OPINION: Erdogan’s trial by corona and dollar shortage

March polls revealed a jump in Erdogan’s approval ratings. So far, the nation seems content with his handling of the crisis. After next week, his fortunes might change

OPINION: Erdogan’s trial by corona and dollar shortage

President Erdogan declared a two day curfew for 31 major cities Friday night, as several reports indicate his administration is seeking swap lines to alleviate an FX shortage. A two day curfew is very unlikely to stop the tide of the nasty coronavirus. Reports from all over Anatolia suggest that the true case numbers could be much higher than reported 47K. If the curfew is lifted, the health system could be dealing with 75-80K patients by next weekend. If there is no stand-by with IMF, capital flight and Turkish savers’ predilection with FX assets could rapidly lead to a currency shock. March polls revealed a jump in Erdogan’s approval ratings. So far, the nation seems content with his handling of the crisis. After next week, his fortunes might change.

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