TL weakness threatens economic-financial stability
The Covid-19 epidemic burst the bubble of optimism for Emerging Markets, weakening their currencies. TL is not the worst…
The Covid-19 epidemic burst the bubble of optimism for Emerging Markets, weakening their currencies. TL is not the worst sufferer, but it is continually under pressure, despite massive intervention to defend it by state banks. The depreciation of the currency has mostly local reasons, such as too low interest rates and political factors. But, it is not transitory. This video explains why the lira is under pressure and how long it might last. The second part focuses on how currency weakness spoils the economic momentum and adds to corporate distress.
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