Desmond Lachman | The Hill
President Recep Erdoğan’s mismanaging the Turkish lira substantially heightens the likelihood that Turkey will soon default on its external debt mountain.
Desmond Lachman | The Hill
Turkish President Erdogan has repeatedly said, “If we lose Istanbul, we lose Turkey,” but he indeed may have lost it electorally and in terms of financial accountability.
Public opinion polls show that economic problems have climbed to the top of the Turkish public’s concerns and electoral support for the ruling party is on the decline ahead of municipal elections in March.
A heavy reliance on imported inputs to manufacture goods for export casts a shadow on Turkey’s hype about headway in foreign trade.