The Coronavirus Will Destroy Turkey’s Economy

Foreign Policy | Apr 8, 2020 at 3:51 AM
  • The investor Warren Buffett once pithily remarked, “Only when the tide goes out do you discover who’s been swimming naked”.
  • Since the abortive coup of July 2016, the Turkish government has purged and blacklisted more than 150,000 civil servants, including 15,000 health care professionals, even forcing the country’s top coronavirus expert to sit unemployed on the sidelines.
  • Analysts at Japan’s MUFG Bank forecast the lira to fall another 18 percent within a year, bringing the exchange rate to a record low 8 lira to the dollar, compared with 3 lira to the dollar in September 2016.