Erdogan blames and fires the Governor of Turkey Central Bank

Erdogan decided to sack Turkish Central Bank’s Governor Nagci Agbal.
The governor had received positive reviews from international bodies, due to his decisiveness to put Turkey to the right direction.
Agbal achieved the restoration of Turkish economy and strengthened the ability of the country to borrow in hard currency.
As a result of his hard work, since November 2020, Turkey CDS rates had fallen dramatically during the last months.
Erdogan however did not like the decision of Central bank to increase interest rates by 200 bps and gave the job to Sahap Kavcioglu, according to a decree published yesterday.
All these indicate the serious trouble the Turkish economy is, since the start of imperialistic wars (Libya, Syria, Armenia), and the genocide war against the 20 million Kurds, initiated by  Turkey’s  president Erdogan, that resulted in the drop -30% of per capita GDP in USD during the last years , and the collapse of the credibility of the country. Turkey GDP per capita, in particular, collapsed from 12,614 USD in 2013, to just 9,126 USD per capita in 2019, according to World Bank.

new-economy.gr