Turkey ‘dicing with lira nightmare part II’
It's as if Turkey's economy has been pumped up on steroids warns Hakura.
By bne IntelliNews February 18, 2020
Turkey is repeating the mistakes that led to the 2018 lira crisis and another freefall for the currency may not be far off, according to an academic at international affairs think tank Chatham House.
Fadi Hakura, a consulting fellow who manages the Turkey Project at the London-based independent policy institute, warned: “Since the 2018 economic crisis, when the value of the lira plummeted and borrowing costs soared, Turkey’s economy has achieved a miraculous ‘V-shaped’ economic recovery from a recession lasting three quarters to a return back to quarterly growth above 1 per cent in the first three months of 2019.
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