The bigger-than-expected rate increase, to 25 percent, is aimed at curbing stubbornly high inflation that exceeded 80 percent last year.
Category: Turkey
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In Istanbul, Tombs of Religious Figures Still Draw Pilgrims
Turkey’s largest city is dotted with the tombs of religious figures, where pilgrims seek divine intervention. “When you ask for something from God, those who are beloved by God can be a go-between.”
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Turkey’s Lira Falls to New Low as a New Economic Policy Forms
The lira plunged 7 percent against the U.S. dollar, as a newly appointed finance minister promising “rational” economic policy takes charge.
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For Turkey, Erdogan Victory Brings More Risky Economic Policy
The Turkish lira has hit a new low, and analysts see few improvements ahead as re-elected President Erdogan pursues unconventional economic policies.
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Kemal Dervis, Who Eased Turkey’s Economic Crisis, Dies at 74
Changes he spearheaded in 2001 helped avert disaster. He later led the United Nations Development Program.
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Turkey’s Reeling Economy Is an Added Challenge for Erdogan
The New York Times – Business:The earthquake’s staggering reconstruction bill will join other economic woes as the country’s autocratic leader faces re-election.
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One Week After Turkey-Syria Earthquake, Relief Efforts Stymied
The New York Times – Business:More than 31,600 people in Turkey and more than 3,500 in Syria have died in the earthquake, the deadliest in Turkey since 1939.
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Soccer Player Christian Atsu Is Rescued From Turkey Earthquake
The New York Times – Sports:Just hours before Christian Atsu was trapped, he had scored the winning goal for the Turkish soccer club Hatayspor.
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‘Miracle’ Cystic Fibrosis Drug Kept Out of Reach in Developing Countries
The New York Times – Business:Vertex Pharmaceuticals is not making its drug, Trikafta, available in poorer countries, where thousands of diagnosed patients stand to benefit.