Turkish economy

Turkish lira volatile after central bank deputy head removed

Ten days after his appointment, Turkish central bank governor Sahap Kavcioglu sought to rebuild confidence in Turkey’s markets Tuesday following another shake-up in the bank’s top managers.

Turkey

Did Erdogan commit economic suicide by sacking central bank chief?

The predicaments of Turkey’s cash-strapped central bank augur a highly challenging period for Erdogan while reducing the visibility range in Turkey’s economy to almost zero.

Turkey

Turkish markets rattled after surprise firing of central bank head

Turkey’s lira and main stock index slid about 9% Monday as markets reacted to the surprise removal of the nation’s central bank chief amid broader political turmoil.

Turkey

Turkey lifts veil on unemployment data, revealing bigger army of jobless

A new, broader set of labor statistics has exposed a big gap between Turkey’s official unemployment rate and the actual joblessness in the crisis-hit country.

Turkey

Pandemic, domestic woes dim Istanbul’s economic luster

Istanbul’s economy is estimated to have shrunk about 3% last year, even as Turkey’s gross domestic product grew 1.8%.

Turkey

Turkish inflation rises, raising expectations of further rate hikes

Turkey’s inflation rate rose to 15.61% in February, marking the fifth month of consecutive increases and raising expectations for the central bank to introduce further rate hikes.

Turkey

Turkey emerges with ‘Pyrrhic growth’ from pandemic-hit 2020

Turkey’s economy grew 1.8% last year despite the pandemic, but not without major risks and downsides, including a smaller GDP in terms of dollars.

Turkey

Foreign debt risks hover over Turkish lira’s recovery

Saddled with chunky foreign debt repayments in 2021, Turkey might face hefty borrowing costs and renewed currency jitters.

Turkey

Turkish Central Bank holds interest rate steady

As forecasted, Turkey’s Central Bank policymakers held a key interest rate steady Thursday, saying they would continue working to reel in the nation’s double-digit inflation.

Turkey

Mountain of debt growing under the rug in Turkey

Turkey’s loan expansion has helped resuscitate the economy, but at the expense of an alarming surge in consumer and corporate debt.

Turkey

Caught between a rock and a hard place, Erdogan seeks a way out

Ankara has to improve Turkey’s international image with major reforms in order to attract much-needed foreign capital but the jury is out on whether President Erdogan can do it.

Turkey

Should Turkish justice minister's comments fuel hope for release of philanthropist Osman Kavala?

Turkish Justice Minister Abdulhamit Gul spoke out against the widespread practice of arbitrary detentions Friday, fueling speculation that Turkish philanthropist and civic activist Osman Kavala, who has been in jail for more than three years on a slew of outlandish charges, may be finally freed.

Turkey