Turkish President Recep Tayyip Erdogan on Saturday said his political enemies are trying to sabotage the economy by speculating on the stock market, foreign exchange rate and interest rates after failing to overthrow his administration in July.Especially in the last three years? So, since 2013? In 2013 Turkey paid off the IMF.
Erdogan is trying to verbally stem a run on the lira, which has lost more than any other emerging market currency over the past month, damping everything from consumer sentiment to economic growth
“Someone is trying to force this country to its knees by economic sabotage after failing to seize it with tanks, guns and F-16s on July 15,”
“This is not a new game and we’re used to it. Especially in the last three years, they are constantly attempting to use economic crisis as a trump card.”
Turkey’s Economy Coordination Board met under Prime Minister Binali Yildirim in Ankara on Dec. 2 and decided to “take necessary measures with regards to public finances, banking and the financial sector, the real sector and the labor market, which will be announced to the public” next week, his office said in a statement.Looks like the Turkish government, in it's entirety, is involved in preventing the sabotage of the Turkish economy.
Central Bank Governor Murat Cetinkaya was among top economic policy makers who attended the board meeting, the prime minister’s office said.
“We need to solve the interest question. I know I’m alone, but I will keep fighting. I’m determined,” Erdogan said. “We need to stand up for our economy like we stood up for our future on July 15.”
Turkey Wants to Trade with Iran, Russia & China in Local Currencies
Dec 4 : Turkey is taking steps to allow commerce with China, Russia and Iran to be conducted in local currencies, President Tayyip Erdogan said on Sunday, the government's latest effort to shore up the tumbling lira.
Turkey is taking steps to allow commerce with China, Russia and Iran to be conducted in local currencies, President Recep Tayyip Erdogan said on Sunday, the government's latest effort to shore up the tumbling lira.
In a speech during an inauguration ceremony in the central city of Kayseri, Erdogan also said that Prime Minister Binali Yildirim would bring up the issue with Moscow during a forthcoming trip to Russia.
"If we buy something from them [foreign countries], we will do that in their currency; if they buy something from us, they will do it in our currency."
Erdogan noted that Turkey will "play its own game" in the economic arena against "all games" played against it.
Turkish Parliament approves pipeline deal for Southstream:
Russian energy minister Alexander NovakTurkey's foreign relations commission has approved the bill ratifying the agreement between Russia and Turkey to build the undersea gas pipeline Turkish Stream, parliament’s official website announced.
It s expected that the bill will be submitted for approval at the plenary session of parliament before the prime minister Binali Yildirim visits Russia, scheduled for December 6-7.
Turkish Stream will directly connect the large gas reserves in Russia to the Turkish gas transportation network.
The offshore component of the system will be built by Gazprom. The offshore pipeline will consist of two parallel pipelines, with 15.75bn m³/year each, running under the Black Sea
Economic and Political Sabatoge
Pipe-laying work for the Turkish Stream gas pipeline will begin in 2017 and end in late 2019, according to the Russian energy minister Alexander Novak.
- EU Votes To Freeze Turkish Accession Talks-NATO Destabilized
- Waging Financial Warfare Against Turkey
- September 23/2016- Moody's Downgrades Turkey's Issuer and Bond Ratings
Credit ratings agency Moody’s Investor Service has downgraded Turkey’s sovereign credit rating to non-investment grade citing worries about the rule of law following an attempted coup, risks from external financing and a slowing economy.Turkey's GDP has been excellent compared to the US (no exact figure, but am certain it's poor) & Canada ( Canada: 2ndquarter: - 1.6, yes that negative 1.6 )... So why did Moody's undertake this action against Turkey. It's purely political! Surprise!
- Turkey/Halkbank: Gold for Trading with Iran- circumventing US sanctions against Iran
- Gold Trader arrested charged in US with Violating US Imposed Sanctions Against Iran
Turkey payed off it’s IMF Debt- May 2013
*Turkey pays off final IMF installment
Turkey took its first loan from the IMF in 1961, according to Mr Babacan. It last borrowed in 2008, and today’s payment will mark the first time Turkey has no outstanding debt to the fund since 1994, he added.*Turkey terminates decades of IMF Debt
When Erdogan’s government came to power in 2002, it owed the IMF $23.5 billion, according to the state-run Anatolia news agency.
TURKEY has paid off all debt owed to the IMF which extended its first loans more than 50 years ago, and is now set to contribute to the fund's operations, owing to economic growth that gave a priority to the private sector, Turkish officials say.Turkey among 11 countries cleared of IMF debt
"After a long period, Turkey has paid off, cut to zero its debt with the IMF," Prime Minister Tayyip Erdogan told deputies from his Justice and Development Party (AKP).
"I hope this development will be positive for our country."
The IMF prefers nations in debt. To them. War creates destruction, death and DEBT.