Shadenfreude sometimes cannot be helped.
[Shafaq News] The President His Enormity, Sultan Recep Tayyip Erdogan the First
...Turkey's version of Mohammed Morsi but they voted him back in so they deserve him. It's a sin, a shame, and a felony to insult the president of Turkey. In Anatolia did Recep Bey a stately Presidential Palace decree, that has 1100 rooms. That's 968 more than in the White House, 400 more than in Versailles, and 325 more than Buckingham Palace, so you know who's really more important...'s steadfast support for a low-interest-rate policy, despite soaring inflation, triggered a currency crisis towards the end of 2021 and resulted in inflation surpassing 85 percent last year.
The central bank, which had refrained from intervening in the foreign exchange market to bolster the lira since June, recently reversed its course by implementing two consecutive strong rate hikes.
Despite these efforts, the lira has lost ground, depreciating by approximately 24 percent since the central bank adjusted its policy stance.
Related:
Turkish lira: 2023-06-08 Turkish lira declines to record lows following start of Erdogan's new presidential term
Turkish lira: 2023-01-31 West intends to overthrow Erdogan
Turkish lira: 2022-08-07 Syrian National Army (Ottoman Proxies): factions fight among themselves as group cohesion frays
Turkish lira: 2023-06-08 Turkish lira declines to record lows following start of Erdogan's new presidential term
Turkish lira: 2023-01-31 West intends to overthrow Erdogan
Turkish lira: 2022-08-07 Syrian National Army (Ottoman Proxies): factions fight among themselves as group cohesion frays