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TURKEY: “Erdoeconomics” disciple appointed Central Bank Governor

TURKEY: “Erdoeconomics” disciple appointed Central Bank Governor | Speevr

President Tayyip Erdogan dismissed the head of Turkey’s Central Bank (TCMB) Naci Agbal and replaced him with Sahap Kavcioglu, according to a presidential decree published late last night in the official gazette. No official reason for Agbal’s sacking has been given, which was ann…   Become a member to read the rest of this article […]

TURKEY: Long on aspirations, short on reforms

TURKEY: Long on aspirations, short on reforms | Speevr

President Tayyip Erdogan failed today (12 March) to make good on his long-standing pledge of economic reforms that would help Turkey to move to a new economic era. In his 65-minute long speech, Erdogan talked mostly about preferable economic outcomes (digital economy, single digi…   Become a member to read the rest of this article

TURKEY: Erdogan’s diversions amid flagging support

TURKEY: Erdogan’s diversions amid flagging support | Speevr

President Tayyip Erdogan is more and more desperately trying to reverse the long-term decline in his public popularity. A gradual easing of Covid-19 restrictions will start in early March while the inoculation program is facing an increasingly urgent shortage of vaccines…   Become a member to read the rest of this article

TURKEY: Covid-19 vaccination program likely to fall short of its targets

TURKEY: Covid-19 vaccination program likely to fall short of its targets | Speevr

The government’s planned Covid-19 vaccination program appears set to fall short of its targets and potentially add to the damage that its often confused response to the pandemic has already caused to its credibility. On the logistical front, it is still unclear how the v…   Become a member to read the rest of this […]

TURKEY: (Toothless) EU and US sanctions next

TURKEY: (Toothless) EU and US sanctions next | Speevr

Due to a toxic mix of over-ambitious policy objectives, aggressive nationalism, and colossal policy miscalculations, Turkey is set to reach a rather peculiar, if not unique, record: becoming a country that has been officially sanctioned by Russia, the US, and the EU. All in les…   Become a member to read the rest of this […]

TURKEY: Mismanagement of Covid-19 spike set to worsen economic outlook

TURKEY: Mismanagement of Covid-19 spike set to worsen economic outlook | Speevr

Two policy U-turns in less than a week signal the seriousness of the pandemic outbreak in Turkey. Facing a “perfect storm” as the country’s hospitals are overstretched, medical staff burned out and the contact tracing system overwhelmed, the government was left with no other op…   Become a member to read the rest of this […]

Global Letter: Groundhog day in Turkey

Global Letter: Groundhog day in Turkey | Speevr

Turkey has once again succumbed to some of its all too familiar failings. Plus ça change, plus c’est la même chose We at Llewellyn Consulting have long argued that some economies behave as if they are prisoners of their own history. There often seems to be som…   Become a member to read the rest […]

TURKEY: A rate hike and a narrow path ahead

TURKEY: A rate hike and a narrow path ahead | Speevr

While a rate hike is in the pocket, a return to a more conventional and transparent economic policy is uncertain. As ever, President Tayyip Erdogan remains the key determining factor, else is choreography. Leaving aside Erdogan, the path ahead for Turkey is a long and narrow one, mainly due to Covid-19, the dire state of […]

TURKEY: Son-in-law may go, Erdoeconomics stays

TURKEY: Son-in-law may go, Erdoeconomics stays | Speevr

It was a rather eventful and tumultuous weekend for Turkey’s economic management as it brought the firing of the central bank (TCMB) governor and the resignation of the finance minister. The former was dealt with the brutal efficiency of a presidential decree, and a new governor …   Become a member to read the rest […]

CAUCASUS: Escalation in fighting unlikely to turn into a regional conflict

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Renewed clashes in Nagorno-Karabakh are not expected to evolve into a wider conflict despite Turkey’s backing of Azerbaijan and Russia’s close ties with Armenia. Geopolitical considerations and economic constraints on both sides point to (eventual) de-escalation as the m…   Become a member to read the rest of this article