Turkey’s Coming Debt Trap | Real Turkey
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[embed]https://www.youtube.com/watch?v=eBxV-FYcvTs&list=RDCMUCKpFJB4GFiNkhmpVZQ_d9Rg&start_radio=1[/embed]
- Marry X-Mas and Season’s Greetings to all inhabitants of Planet Earth.
- Debt has become a huge concern for Developing Economies, the management skills of which have not been tested in tight global financial conditions.
- President Erdogan is changing Economic Models every month nowadays, which means he has NONE.
- Turkey switched from an export-driven development model to exchange rate stabilization within a month.
- The new exchange rate stabilization plan called “Exchange Rate Protected TL Deposits” creates huge “contingent liabilities” for the Treasury and Central Bank.
- Turkey needs to re-finance at least $170 bn of foreign debt within a year.
- External conditions are moving against countries like Turkey.
- The debt trap is “limited access to global credit markets”.
- What could be its extent and the damage to the Turkish economy?
