After more than half a decade of dramatically depreciating currency, burning through FX reserves and unorthodox monetary policy, Turkey's economy is battle-scarred.
After more than half a decade of dramatically depreciating currency, burning through FX reserves and unorthodox monetary policy, Turkey's economy is battle-scarred.inflation in the country of 85 million sits at nearly 70%, Turks struggle to afford basic goods, and the lira has lost some 81% of its value against the dollar since this time in 2019.
It said at the time that "tight monetary stance will be maintained until a significant and sustained decline in the underlying trend of monthly inflation is observed.""The authorities' shift towards policy normalization has galvanized investor interest in Turkish assets," according to a Citi report published Thursday.
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