How can Turkey avoid bankruptcy? - Politics Forum.org | PoFo

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#15168914
IWF loans do not help, every country who demanded help from the IWF, the country went bankrupt, and the economy plunged.


I think Erdogan does the right thing to devalue the currency. Tukey imports too much (negative trade balance).

When the Turkish Lira falls the people can not afford foreign products, and exports get more competitive due to lower wage cost.

Education is a problem. The education system is worthless. I spent several months in Istanbul and the English skills of the population were incredibly bad.

English is the Lingua Franca.
#15168916
Sandzak wrote:Education is a problem. The education system is worthless. I spent several months in Istanbul and the English skills of the population were incredibly bad.


Better than the British can speak Turkish I can assure you. :lol:

As for the topic, I doubt Erdoğan wanted to devalue the Lira but it was more a consequence of his leadership. Although I tend to agree with your analysis that a devalued currency isn't all bad and can be beneficial in many cases. I certainly think it helps in a tourism economy given you allow people to spend more and stimulate many parts of the tourism sector (people like to spend when on holiday) that otherwise wouldn't have been stimulated. Sl in other words I don't see Turkey going bankrupt or needing an IMF loan once people start travelling again. Didn't he turn it down anyway? Can't remember.
#15168922
Sandzak wrote:Turkey is not just tourism. AFAIK Turkish fertile land feeds 400 Million people.

Erdogan has established an excellent military industrial complex.


I only really commented given I wanted to add to to topic but corrected your statement that the Turkish are not the only nation that is poorly linguistic. Being from an English speaking nation I find it almost embarrassing that we rely on everyone speaking English and when I read things like "such and such can't speak English" I almost feel compelled to comment.

As for Turkish having fertile land feeding 400mn people, I cannot comment on Turkish agriculture given I know fuck all about it. And I am fully aware they have more to offer the world than just holiday's. But even so, it isn't known for production and is for tourism anyway. As it happens pre-Covid everyone I knew was going to Turkey because of the value of the Lira being a worse performer than Sterling and that was beneficial for Turkey I suspect. That was all I was saying. A devalued currency isn't all bad and shouldn't be an indicator of a nation going bankrupt.
#15168999
Sandzak wrote:IWF loans do not help, every country who demanded help from the IWF, the country went bankrupt, and the economy plunged.


I think Erdogan does the right thing to devalue the currency. Tukey imports too much (negative trade balance).

When the Turkish Lira falls the people can not afford foreign products, and exports get more competitive due to lower wage cost.

Education is a problem. The education system is worthless. I spent several months in Istanbul and the English skills of the population were incredibly bad.

English is the Lingua Franca.


Everyone who takes money from the IMF does not go bankrupt. It is a story that corrupt loosers like to tell to their people. The basic idea of which is that you take the money, do some reforms that are badly needed and then blame everything on the IMF. If you think that people take money not knowing what those reforms are then you are surely mistaken. IMF is an excuse and a scapegoat to sell to the people of sorts.

In most cases it actually works and restarts the economy. In some cases the country fails to reform due to corruption or whatever else it can be. The question that you should be asking yourself is why some countries can reform and some can't. Most countries that say that IMF will kill your country probably know somewhere deep down that nobody will reform anything and just steal the money.

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