Turkish economists predicts impoverished Turks could double this year to 20 million & set back two decades of progress in narrowing inequality
Turkish Lira
The Turkish Central Bank's foreign exchange reserves have fallen to $ 49.2 billion since July 17
It takes firepower to support a currency, just how much of that the central bank has left has come into focus
More than half of the debt, or 825.2 billion Turkish lira ($ 121 billion), is in foreign currency
Turkey’s government has appealed to foreign allies in an urgent search for funding
Ankara is pushing problematic policies as its president’s political survival is hitting up against economic imperatives
The central bank's net FX reserves have fallen sharply to nearly $25 billion from $40 billion this year
The ratio of exports to imports dropped by nearly 20 percent in the past year
"Cat-and-mouse game" pitches central bank against market forces
“Before all buffers are depleted, we think the CBRT will hike rates dramatically and likely introduce tight capital controls”