Erdogan’s gamble: What’s behind Turkey’s soaring inflation?
06 January 2022 |
8:30 am
Turkey's President Recep Tayyip Erdogan is defying the standard prescriptions for inflation – the country's worst in nearly two decades – by burning through currency reserves and central bank governors to keep interest rates low. As those reserves dwindle and lines lengthen at subsidised bakeries, we ask our guests about the impact on ordinary citizens and why Erdogan is holding out, with cues to booming exports which he says are the flipside of a plummeting lira.
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