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Calls and begging to save Erdogan from the impact of the collapse of the Turkish lira


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Calls and begging to save Erdogan from the impact of the collapse of the Turkish lira

Post by rocky on Sun 27 May 2018, 1:25 am

[ltr]Calls and begging to save Erdogan from the impact of the collapse of the Turkish lira[/ltr]
[ltr]Arab and international[/ltr]
 Since 2018-05-26 at 17:37 (Baghdad time)
Follow - Mawazine News 
Social networking sites have attracted calls from political Islam and the Muslim Brotherhood to call for the rescue of the Turkish lira from collapse. 
These people justified their calls, fearing that the collapse of the pound would affect the chances of Turkish President Tayyip Erdogan's victory in the upcoming presidential and parliamentary elections. 
"Muslims rushed to save the Turkish lira," one of them wrote on Twitter. 
Earlier on Saturday, Erdogan called on the Turks to "save their currency" and convert their savings in euros and dollars to the lira. 
Turkey suffers from a large current account deficit, above 5 per cent of GDP. This means, according to experts, that it imports more than it exports, and need external funding to compensate for the difference. 
Ankara relies on short-term debt to maintain economic performance, but this comes at a risk that supply supplies will dry up quickly if investors want to exit the Turkish market. 
For his part, considered the deputy head of the party of the Turkish nationalist movement Sevan Ayagan it would be good not to interfere with Turkish President Recep Tayyip Erdogan in financial policies. 
Ayman, whose party allied with Erdogan's party in the upcoming elections, stressed that his remarks were not intended to criticize the Turkish president. Finished 
Erdogan, speaking to the Bloomberg website during his visit to London, hinted that he would intervene in the central bank's policies. Erdogan then expressed his opposition to a rate hike, saying interest rate cuts were a reduction in inflation. 
Erdogan said he met with the head of the Central Bank and Economy Minister Nihad Zibekji before traveling abroad, but the bank decided to raise interest rates after he left the country. "They did it without my knowledge, and some of the colleagues' comments about the economy are very wrong," Erdogan said. 
The currency has fallen more than 20 percent of its value since the beginning of the year, before gaining some gains, as investors turned to selling the pound in the recent period to concerns about the central bank's ability to contain inflation.[/ltr]

    Current date/time is Sat 20 Oct 2018, 11:11 pm