With the Turkish lira down by 9% so far today and 20% over the past week, the currency is now firmly in crisis territory. Higher inflation and tighter domestic financial conditions are likely to sap Turkey’s recovery. But given the small trade and financial links with the rest of the world, and that most EM external positions are in better shape than in the past, there are unlikely to be significant global spillovers.
Drop-In: Turkey's Currency Crisis - Mapping the Endgame
3pm GMT, Tuesday 23rd November 2021
Join Senior Emerging Markets Economist Shilan Shah and Jason Tuvey, who leads our Turkish coverage, for a discussion about this latest crisis, the extent of potential EM contagion and likely paths ahead.
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