As inflation soars and the value of Turkey’s currency plummets, one couple described how working families can’t make ends meet and have had to cut back on basic necessities as well as life’s smaller pleasures.
Tag: Currency
Turkish Currency Hits a New Low, Again
The Central Bank has cut interest rates, even as inflation continues to soar, deepening President Erdogan’s disputed economic plan and setting off a new plunge in the lira.
Many Turks Can’t Afford Bread, and Bakers Can’t Afford to Make It
Squeezed by rising costs, price controls and plunging sales, bakers warn of ruin, while their impoverished former customers line up for government-supplied loaves.
How Inflation Affects Turkey’s Struggling Economy
Even before the pandemic, Turkey was trying to ward off financial meltdown. The crisis has accelerated as President Recep Tayyip Erdogan has doubled down on his unorthodox policies.
Turkey’s President Follows His Own Advice Even as Economy Slips
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.
‘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.