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.
Tag: Economic Conditions and Trends
Workers in Europe Are Demanding Higher Pay as Inflation Soars
Prices are rising at the fastest rate on record, and unions want to keep up. Policymakers worry that might make inflation worse.
Macron and Scholz Meet and Call for More ‘European Sovereignty’
The new German chancellor made his first foreign stop in Paris, where the two leaders discussed a more independent, bolder Europe.
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.
On Syria’s Ruins, a Drug Empire Flourishes
Powerful associates of Syria’s president, Bashar al-Assad, are making and selling captagon, an illegal amphetamine, creating a new narcostate on the Mediterranean.
George Kordahi Resigns Under Saudi Pressure
Comments by the information minister, before he joined the government, prompted a diplomatic rift between Lebanon and powerful Gulf States. It was unclear if his resignation would end the crisis.
Didi of China Moves to Delist From New York Stock Exchange
The ride-hailing giant made an abrupt shift as officials in Washington and Beijing have grown increasingly skeptical of Chinese corporate access to Wall Street’s money.
Extreme Poverty Has Been Sharply Cut. What Has Changed?
The U.N. pledged to cut by half the proportion of people living in the worst conditions around the world.
How Omicron Could Knock Economic Recovery Off Track
The latest zigzag in the pandemic has already curtailed travel, but its broader impact on growth and inflation isn’t likely to be known for several weeks.
‘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.