Emerging Europe Economics

Emerging Europe Economics Update

8 August, 2018

How can Turkey get out of its crisis?

The lesson from other countries that have suffered from currency crises is that fiscal and monetary policy will need to tighten, preferably under the auspices of an IMF deal, to stabilise the economy. However, it’s unclear that this is politically palatable in Turkey. It seems more likely that the government will try to muddle through for as long as possible, resulting in further currency weakness and higher inflation.

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