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Old 20th November 2020, 13:16   #3211 (permalink)
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Re: Watch The Lira Now

As said "so far so good" but don't think the boss will keep his hands off the wheel or drop his religious aim of no interest ideology ..

It's said it will be the Turkish people who will decide the fate of the Lira ...by where they invest their money, in Lira or hard currency or Gold...how often have they been told to invest in Lira? only to see their savings depreciate ?? .....plus what about Turkey's foreign debt how will that be serviced? .... how much Sovereign fund and TCB money is their left to prop any run on the Lira ? all these have to be solved....


TURKEY’S PATH TO POLICY CREDIBILITY—SO FAR, SO GOOD
By Jurgen Odenius, PhD, Economic Counsellor, Global Macroeconomic Research
November 19, 2020

https://pgimfixedincome.blog/turkeys...o-far-so-good/
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Old 20th November 2020, 17:50   #3212 (permalink)
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Re: Watch The Lira Now

58 of every 100 lira debt of the state is in foreign currency

According to data from the Ministry of Treasury and Finance, 58 percent of the central government's debt is now in foreign currency.


Central government debt is 1 trillion 863 billion liras in September, rose to 1 trillion 934 billion lira in October. The debt increase in just 1 month was recorded as 71.8 billion liras.


The share of foreign currency is increasing in the Treasury's debts, which under normal conditions should borrow in domestic currency under its control. 10 years ago, 26 percent of total debt in October was in foreign currency. This rate rose to 49 percent in October last year. According to data released yesterday, 58 percent of central government debt is now in foreign currency.


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Old 20th November 2020, 18:03   #3213 (permalink)
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Re: Watch The Lira Now

Of course it is. I cannot imagine countries lending to Turkey, repayable in TL
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Old 24th November 2020, 08:51   #3214 (permalink)
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Re: Watch The Lira Now

It's on the way down again. Changing the cover does not change the book.
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Old 24th November 2020, 21:25   #3215 (permalink)
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Re: Watch The Lira Now

With the movement in the tl today, we should see the commitment to the Countries new economic policy or not. Maybe time for a new finance chief!!!
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Old 25th November 2020, 16:40   #3216 (permalink)
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Re: Watch The Lira Now

Is the new team copying old policy with the same results ? ...


Are we going to experience 2018 once again in interest?

Alaattin AKTAŞ
ECO ANALYSIS

1 June 2018; The apparent interest rate was raised from 8 percent to 16.50 percent in one move, but this operation could not stop the increase in the exchange rate. Because the actual interest was already 16.50 percent, the interest was then increased to 24 percent in two moves.

✔ On November 19, 2020, the apparent interest rate was increased from 10.25 percent to 15 percent, but this operation did not relieve the pressure on the exchange rate. Because the actual interest was already 14.87 percent.

✔ After two years, we do the same operation and expect different results!


https://www.dunya.com/kose-yazisi/fa...yacagiz/601329
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Old 26th November 2020, 07:04   #3217 (permalink)
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Re: Watch The Lira Now

lira could hit 11 next month
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Old 26th November 2020, 07:32   #3218 (permalink)
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Re: Watch The Lira Now

if you always do what you have always done,
then you will always get what you have always got.
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Old 26th November 2020, 07:35   #3219 (permalink)
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Re: Watch The Lira Now

You have just described "Re Branding" ---as the Doobies sang "What a fool believes"
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Old 26th November 2020, 12:59   #3220 (permalink)
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Re: Watch The Lira Now

It's now known that when the son in law offered his resignation he didn't expect it to be accepted (so much for self belief or ego having never met a target whilst in office ) and is feeling a bit of a pique. The problem it seems is son in laws bureaucrats he appointed feel some sense of loyalty to the old boss , and are now resisting the new teams policies, and maybe would like to see the new team fail .... Also the the Son in Law is still in a position of power to affect the new policy, as having resigned as Financial Minister, he still kept the second highest position, in being in control of the countries well funded an important Sovereign Fund which services the TCB.....



https://www.cumhuriyet.com.tr/yazarl...uluyor-1793867
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