President Recep Tayyip Erdogan is increasingly isolated as he clings to an economic prescription that few endorse but that he believes will bear results before elections.
Tag: Currency
‘Our Money Has No Value’: Frustration Rises in Turkey at Lira Crisis
President Recep Tayyip Erdogan’s insistence on directing monetary policy and sticking with low interest rates is draining confidence, economists say.
In Global First, El Salvador Adopts Bitcoin as Currency
President Nayib Bukele has promoted the cryptocurrency as a path to financial freedom, but economic experts and many Salvadorans worry the move brings great risks.
In Global First, El Salvador Adopts Bitcoin as Currency
President Nayib Bukele has promoted the cryptocurrency as a path to financial freedom, but economic experts and many Salvadorans worry the move brings great risks.
Why the Taliban Desperately Need Cash to Run Afghanistan
The group has long tapped underground banks and opium to fund Afghanistan’s insurgency. Fixing the nation’s problems will require a lot more than that.
They Wait Hours to Withdraw Cash, but Most A.T.M.s Are Empty
Myanmar has been crippled by a cash shortage since the military seized power six months ago, plunging the Southeast Asian nation into a financial crisis.
El Salvador Becomes First Nation to Make Bitcoin Legal Tender
The digital currency can be used in any transaction and most businesses will have to accept payment in Bitcoin. The U.S. dollar will continue to be El Salvador’s main currency.
Lebanon’s Financial Collapse Hits Where It Hurts: The Grocery Store
The country’s currency has sunk to a new low against the dollar, sending prices for once affordable foods soaring out of reach.
How Can Biden Bring Back Manufacturing Jobs? Weaken the Dollar
Critics of a strong currency say it hurts American factory workers by making imports cheap.
China Charges Ahead With a National Digital Currency
The electronic Chinese yuan is now being tested in cities such as Shenzhen, Shanghai and Beijing. No other major power is as far along with a homegrown digital currency.