Turkey’s Currency Meltdown - WSJ

Turkey’s Currency Meltdown - WSJ:
"...Argentina has been getting that re-education of late, and now Turkey is watching capital flee for safer climes.
Turkey’s lira fell as much as 5% on Wednesday, and it’s lost more than a fifth of its value this year, 
...With capital fleeing, Mr. Erdogan is getting higher interest rates in any case as the central bank tries to stem the lira panic.
On Wednesday the bank lifted a key lending rate to 16.5% from 13.5%.
Consider this the price of the lost credibility of Turkish institutions under Mr. Erdogan’s increasingly authoritarian rule.
Dictators are rarely good economic managers because they want to dictate fiscal and monetary policy as much as they do every political choice..."
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