How Will Turkey's Election Shape the Economy?
Patrick Boyle On Finance
00:00
Erdogan's Strategy of Selling Foreign Currency Reserves to Prop Up the Turkish Currency
Erdogan has reached agreements with countries including Qatar, Russia and Saudi Arabia to help prop up central bank reserves. Erdogan's ability to get financing from friendly countries is quite impressive. Even countries that themselves aren't exactly friends have lent huge sums to the Turkey central bank but at some point Turkey will presumably exhaust the financial patience of its new non-market creditors.
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