Turkey’s Increasing Balance Sheet Risks
Turkey is heading for a classic currency crisis. All of its reserves and then some are borrowed.
Blog Post by Brad W. Setser
June 6, 2023 5:07 pm (EST)
Turkey’s President, Recep Tayyip Erdogan, appears to have secured his own reelection.
He now has to find a way to avoid what appears to be an imminent financial crisis.
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Turkey’s Increasing Balance Sheet Risks | Council on Foreign Relations