Midnight Express
Of course I am not here to talk about the Academy Award winning movie although it has some detail that many Turks find ugly. Our monetary policy markets decided to hold an extraordinary meeting yesterday and it has seemed to have the desired effect so far. There has not been no intervention by selling already not sufficient foreign exchange reserves. Like many others, I thought that it was the political pressure by government on Turkish Central Bank not...
Does Turkey Have Sufficient Foreign Exchange Reserves ?
What sort of crisis is now confronting the emerging world? The question commonly has been a matter of debate for a while. One thing most economists seem to agree on is that this is not a replay of the late 1990s. There are no exchange-rate pegs and large debts denominated in foreign currencies to be threatened by capital outflows anymore. However, following the capital rushing to the developing world, private firms started to have quite a lot of...