Türkische Lira im freien Fall
Auch die türkische Wirtschaft ist von der Corona Krise schwer getroffen, die Lira befindet sich erneut im freien Fall. Da helfen auch Beteuerungen aus Ankara nichts:
The lira lost 1.5% against the dollar Wednesday, slumping to 7.19 per greenback. Negative pressure persisted on the currency despite a rare conference call by Turkish Treasury and Finance Minister Berat Albayrak, in which he assured investors bank reserves were more than adequate and that state regulators would not impose capital controls.
While the pandemic has strained most emerging markets, Turkey’s economy has been particularly impacted due to concerns over state policies that have depleted central bank reserves in effort to prop up the lira in recent months.
“There is no confidence in what the authorities in Turkey are doing and that is why Turkey gets punished at the end of the day,” Wolf Piccoli, co-president and political risk analyst at Teneo Intelligence, told Al-Monitor.
Piccoli said he expects the economic downturn to persist as a slump in tourism this summer combined with a growing trade deficit would likely leave state regulators with few resources to revive the economy as the spread of the coronavirus slows.
In Foreign Policy hatten Autoren schon vor genau einem Monat mit dieser drastischen Überschrift gewarnt: The Coronavirus Will Destroy Turkey’s Economy und schrieben:
As Turkey and the world face an unprecedented financial and public health challenge, Erdogan’s biggest mistake is conflating the COVID-19 pandemic with earlier annoyances that he could sweep under the rug with heavy-handed methods and a dose of polarizing rhetoric. During an unparalleled crisis that calls for solidarity and trust within and among nations, unless the Turkish president stops doubling down on past mistakes, calamitous financial and public health crises await Turkey—and each of them will be contagious for the country’s trading partners near and far.
Sie scheinen recht behalten zu haben.