turkey quake: Earthquake sends tremors through Turkey's fragile economy - The Economic Times

Earthquake sends tremors through Turkey's fragile economy The central bank's vanishing coffers have been replenished by assistance from Russia and oil-rich Gulf states, which has helped Turkey spend tens of billions of dollars propping up the lira in the past few years. Istanbul: Turkey was already battling runaway inflation and relying on rich allies for funding to keep its economy afloat when a massive earthquake killed tens of thousands, razed entire cities and left millions needing urgent help. Now, it must pour billions of dollars into rebuilding 11 southeastern provinces flattened by the February 6 tremor -- the worst disaster of its post-Ottoman history. That money will have to come on top of the billions of dollars in election promises that President Recep Tayyip Erdogan has made in the run-up to crucial polls still tentatively planned for May 14. More:turkey quake: Earthquake sends tremors through Turkey's fragile economy - The Economic Times