{"id":208,"date":"2018-10-04T04:58:14","date_gmt":"2018-10-04T04:58:14","guid":{"rendered":"https:\/\/blog.sevenstarfx.com\/?p=208"},"modified":"2023-09-13T08:54:52","modified_gmt":"2023-09-13T08:54:52","slug":"learn-how-turkey-crisis-going-to-impact-the-market","status":"publish","type":"post","link":"https:\/\/www.sevenstarfx.com\/blog\/learn-how-turkey-crisis-going-to-impact-the-market\/","title":{"rendered":"Learn, how Turkey crisis going to impact the market?"},"content":{"rendered":"\n

The Turkey has been on radar of news with significant economic crisis that has actually impacted the worst face off in this century and have led to huge difference in the lives of the people. There is always a significant amount of change in the economic conditions that has led to kind of economic recession with a major change in capital markets. The economy is dwindling while there is a recent spat and a nod given by the IMF with at least more than $24 Billion that needs to be given to the Turkey dwindling with lot of huge financial crisis.  <\/p>\n\n\n\n

On the other hand, even though Turkish Lira<\/a><\/strong> has been expecting a \u2018trouble waters which has majorly affected the liquidity in the market.\u00a0 Due to which IMF has agreed to lend at least $19 billion to restructure the entire financial system that actually opens up the economy. While on the other hand their Prime Minister Tayyip Erdogan and its Islamic party tends to show the republic of Turkey a direction to get rid out of this crisis. While to be quite often there is experiencing a high amount of inflation in the market due to which it has minded the wealth of people. <\/p>\n\n\n\n

The Erdogan has actually caused insecurity and political instability in the market that has caused the higher inflation in the market. This Political instability has shown an eager chance of the party promises which the present government keep. This has actually caused insecurity among the traders and hence the value of currency trading<\/strong><\/a> is actually going down.\u00a0 <\/p>\n\n\n\n

The IMF came into picture back in 1999 with application to turkey as a European member country but however the terms got rejected.        <\/p>\n\n\n\n

While the conditions of the IMF have actually led to \u201cstand-by\u201d agreement has helped by its application to join the European Union as a full member. This process has actually acted as an important anchor and Turkey\u2019s social path.<\/p>\n\n\n\n

The turkey\u2019 economy as a result has expanded a lot which has expanded the strong global growth. Inflation has fell into the single digits and exports tripled up. However a dark side of turkey economy is increasing imports and lot of demand of cash made the Turkish lira to look more miserable in their own economy. Like China, turkey is also a waging economic war with United States. Many of the top analyst has warned that were will be waging war due to global financial crisis. One of the major reason to invest in Turkey\u2019s is low levels of household and corporate debt that made it a very desirable destination for foreign capital while Turkey\u2019s banking system was awash in low-cost credit spree.<\/p>\n\n\n\n

Instead, the prime minister believed that he could propel more room for his economy toward \u201cendless growth\u201d that made it is easier for the Turkish & other MNC companies to access loans denominated in foreign currencies. This made them even more vulnerable to a drop in the value of the lira.<\/p>\n\n\n\n

This, coupled with the favorable credit conditions, caused the construction sector to boom \u2013 particularly among companies closely associated with the government. The central bank\u2019s housing price index increased<\/p>\n\n\n\n

However the over spending by the government has actually worsened the current account deficit even further. As a result, private sector external debt surged from just 16 percent of GDP in 2003 to almost 40 percent at the end of last year.<\/p>\n\n\n\n

One of the biggest fears now is that the currency crisis will lead to the kind of severe capital flight that crashed the economy. To make matters worse, Erdogan has been increasing his attacks on the independence of the central bank, historically one of the most trusted institutions in the country. He has already eroded the relative independence of Turkey\u2019s regulators by recently installing unnecessary interference in treasury and others. It has actually hurt the Turkey\u2019s credibility in the eyes of foreign investors. The Turkish lira plunged to a record low this month.  <\/p>\n\n\n\n

Why the\nturkey\u2019s economy is crashing? <\/strong><\/h2>\n\n\n\n

The main problem of turkey was political instability. One of the major problem is the opposite because of the too much authority is given only to a single politician, whose popularity and political power have made him unable or unwilling to see Turkey\u2019s crisis for what it is.<\/p>\n\n\n\n

So\nwhere does Turkey go from here?<\/strong><\/h2>\n\n\n\n

Turkey needs to implement and adopt stabilization program due to which there is some support from the EU, mainly by alleviating Turkey\u2019s short-term problems. However, for a variety of reasons, including past tensions and a lack of financial ties, this seems little more likely than a return to the IMF.<\/p>\n\n\n\n

A last option is for Turkey to get more aid or loans from non-Western countries like China, Russia or Qatar \u2013 to solve its short-term financing problems. Last the turkey has to take sole ownership on what they have lost.  Turkish Lira is doomed as of now but the crisis is not something which cannot be transformed. <\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

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