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Briefing on the Turkish lira crisis

Briefing on the Turkish lira crisis

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16 August 2018

The Turkish government has bought itself time but still faces a potential economic crisis

  • The Turkish lira has rallied amid government steps to stabilise the financial system and secure foreign investment
  • Although temporarily effective, these measures have failed to address the political and economic factors driving a potential crisis, most notably the on-going dispute with the US
  • The government’s options are narrowing, limiting the chances of avoiding significant economic damage

The Turkish lira has halted its depreciation against the dollar, gaining in value for the third consecutive day on Thursday amid government efforts to stabilise the country’s potentially fragile financial system. The central bank eased capital ratios and provided around 10 billion liras and three billion dollars worth of gold…

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