Turkish PM Blames ‘Manipulators’ for Depreciation of Lira

Prime Minister Binali Yıldırım has blamed “manipulators” for the Turkish Lira’s dramatic losses, claiming that recent fluctuations “do not reflect the economic realities” of the country.

“The recent situation in our economy is temporary. It is not based on economic realities. There are some circles that are acting manipulatively. They want to push Turkey somewhere politically. That is my opinion and it is what the data shows,” Yıldırım told journalists in the capital Ankara on Jan. 13.

He noted that Turkish banks’ capital adequacy rates, budget deficit and its public debts are all at manageable levels.

“But for some circles these things are not enough. They have turned several threats and risks faced by Turkey into certain conclusions. There are some people who are raising risk perceptions about Turkey in a bid to squeeze it in economic terms. We have strengths and weaknesses and they know this. But we will overcome all these problems,” Yıldırım said.

The lira has rebounded slightly in the last two trading days of the week, as dollar weakness helped it move off record lows and the Central Bank canceled its weekly repo sales, after seeing its biggest plunge since the aftermath of a failed coup attempt last July.

The recent rises in foreign exchange rates have also been a direct result of massive forex buying of businesses to pay their forex debts, according to Yıldırım, who added that the government would lower loan costs in order to ease the pressure on such companies.

“The forex rises might worry our citizens, but they should know that this situation is temporary and will be overcome. We have worked on it and taken several measures. Our Central Bank has been competent regarding with its agenda. It takes the required measures,” he added.

The prime minister also repeated the government’s line that the Central Bank should not raise interest rates “unless deemed necessary.”

“Other measures should be considered first of all. Raising rates will push up the borrowing costs. There may be a positive correlation between interest rates and the inflation rate, but the difference should not be big,” Yıldırım said.

He also stated that lenders must create a room for debtors to rebound their businesses, to create new jobs, to accelerate their activities and thus to repay their debts, rather than “kicking them when they are down.”

www.hurriyetdailynews.com

26 Comments

  • Astro Angel Reply

    10 December 2019 at 23:49

    … [Trackback]

    […] Find More on that Topic: istanbulpost.com.tr/turkish-pm-blames-manipulators-for-depreciation-of-lira/ […]

  • www.cbd-campus.com Reply

    18 December 2019 at 20:52

    … [Trackback]

    […] Info on that Topic: istanbulpost.com.tr/turkish-pm-blames-manipulators-for-depreciation-of-lira/ […]

  • 안전카지노 Reply

    26 December 2019 at 04:26

    … [Trackback]

    […] Find More Information here to that Topic: istanbulpost.com.tr/turkish-pm-blames-manipulators-for-depreciation-of-lira/ […]

  • 안전놀이터 Reply

    15 January 2020 at 07:49

    … [Trackback]

    […] Read More here on that Topic: istanbulpost.com.tr/turkish-pm-blames-manipulators-for-depreciation-of-lira/ […]

  • 바카라 Reply

    24 January 2020 at 10:19

    … [Trackback]

    […] Find More here on that Topic: istanbulpost.com.tr/turkish-pm-blames-manipulators-for-depreciation-of-lira/ […]

  • 온라인바카라 Reply

    01 February 2020 at 03:05

    … [Trackback]

    […] Read More Information here on that Topic: istanbulpost.com.tr/turkish-pm-blames-manipulators-for-depreciation-of-lira/ […]

  • https://www.pasjonisci.pl/ Reply

    20 February 2020 at 17:58

    … [Trackback]

    […] Read More here on that Topic: istanbulpost.com.tr/turkish-pm-blames-manipulators-for-depreciation-of-lira/ […]

  • verthil ertva Reply

    29 February 2020 at 23:56

    I like this web site its a master peace ! Glad I discovered this on google .

  • frolep rotrem Reply

    09 March 2020 at 18:23

    I’m curious to find out what blog system you happen to be utilizing? I’m having some small security problems with my latest website and I’d like to find something more secure. Do you have any solutions?

  • smoretraiolit Reply

    13 April 2020 at 21:06

    As I website possessor I believe the content matter here is rattling fantastic , appreciate it for your hard work. You should keep it up forever! Best of luck.

  • Medium Mireille Reply

    03 June 2020 at 23:52

    … [Trackback]

    […] Read More on to that Topic: istanbulpost.com.tr/turkish-pm-blames-manipulators-for-depreciation-of-lira/ […]

  • british dragon deca durabolin Reply

    09 June 2020 at 08:40

    … [Trackback]

    […] Read More on to that Topic: istanbulpost.com.tr/turkish-pm-blames-manipulators-for-depreciation-of-lira/ […]

  • industrial concrete floor coatings Reply

    12 July 2020 at 11:07

    … [Trackback]

    […] Info to that Topic: istanbulpost.com.tr/turkish-pm-blames-manipulators-for-depreciation-of-lira/ […]

  • กู้เงินด่วนมหาสารคาม Reply

    05 August 2020 at 03:40

    … [Trackback]

    […] Info to that Topic: istanbulpost.com.tr/turkish-pm-blames-manipulators-for-depreciation-of-lira/ […]

  • Marc CEO Apartment Corp Reply

    17 August 2020 at 22:58

    … [Trackback]

    […] Read More on on that Topic: istanbulpost.com.tr/turkish-pm-blames-manipulators-for-depreciation-of-lira/ […]

  • 먹튀인 Reply

    21 August 2020 at 05:06

    … [Trackback]

    […] Find More on on that Topic: istanbulpost.com.tr/turkish-pm-blames-manipulators-for-depreciation-of-lira/ […]

  • http://63.250.38.81/ Reply

    01 September 2020 at 14:10

    … [Trackback]

    […] Info to that Topic: istanbulpost.com.tr/turkish-pm-blames-manipulators-for-depreciation-of-lira/ […]

  • natural video transitions Reply

    16 September 2020 at 08:26

    … [Trackback]

    […] Read More Information here on that Topic: istanbulpost.com.tr/turkish-pm-blames-manipulators-for-depreciation-of-lira/ […]

  • painting with diamonds Reply

    18 September 2020 at 14:10

    … [Trackback]

    […] Information to that Topic: istanbulpost.com.tr/turkish-pm-blames-manipulators-for-depreciation-of-lira/ […]

  • kid Reply

    26 September 2020 at 05:24

    … [Trackback]

    […] Find More to that Topic: istanbulpost.com.tr/turkish-pm-blames-manipulators-for-depreciation-of-lira/ […]

  • immediate edge Reply

    01 October 2020 at 10:11

    … [Trackback]

    […] Find More on that Topic: istanbulpost.com.tr/turkish-pm-blames-manipulators-for-depreciation-of-lira/ […]

  • https://blazingtraderapp.com Reply

    04 October 2020 at 11:24

    … [Trackback]

    […] Read More on that Topic: istanbulpost.com.tr/turkish-pm-blames-manipulators-for-depreciation-of-lira/ […]

  • 사설토토 Reply

    06 October 2020 at 12:53

    … [Trackback]

    […] Here you will find 5554 additional Information to that Topic: istanbulpost.com.tr/turkish-pm-blames-manipulators-for-depreciation-of-lira/ […]

  • Tawanna Stec Reply

    07 November 2020 at 12:30

    Awesome write-up. I’m a regular visitor of your website and appreciate you taking the time to maintain the excellent site. I will be a frequent visitor for a really long time.

  • Tad Casino Reply

    08 November 2020 at 09:15

    I do not even know how I ended up here, but I thought this post was great. I do not know who you are but certainly you are going to a famous blogger if you aren’t already 😉 Cheers!

  • DevOps services Reply

    10 November 2020 at 12:25

    … [Trackback]

    […] Info to that Topic: istanbulpost.com.tr/turkish-pm-blames-manipulators-for-depreciation-of-lira/ […]

Leave a Comment