Turkey: The Turkish lira is collapsing… why does President Erdogan not care?

image sources, APE

Legend,

Last month, the Turkish lira fell 30% against the dollar.

Turkey’s national currency has plunged 45% against the dollar this year, and yet President Recep Tayyip Erdogan doesn’t seem so upset.

The lira has hit record highs in recent days, but Turkey’s leader continues its “war for economic independence” backed by low interest rates.

Why is Erdogan pushing a model that critics say risks skyrocketing inflation, unemployment and poverty, and what does this mean for Turks?

unorthodox politics

The simple reason for the collapse of the Turkish lira is Erdogan’s unorthodox economic policy keep interest rates low to boost Turkey’s economic growth and export potential with a competitive currency.

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