Turkey’s Coming Debt Trap | Real Turkey

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Turkey’s Coming Debt Trap | Real Turkey

• 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?

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