Turkish President Recep Erdogan diligently calls for his compatriots to dump US dollars. But it seems that the Turks pay little attention to his appeals. Otherwise, he would not have to repeat his urges again and again.
For the nth time, Erdogan reiterated that the American currency has a destructive effect on the Turkish economy. At the same time, other countries took notice of his viewpoint with the global media discussing this issue actively. "Using the dollar only damages us. We will not give up. We will be victorious," the Turkish President said, speaking at a business forum hosted by Kyrgyzstan. He blamed the US dollar for derailing the Turkish economy. It was a rather cunning move to shift responsibility for an economic slowdown to a foreign currency.
Despite Erdogan’s loud statements, the Turkish lira is still suffering huge losses. Besides, the country’s economy is facing some big challenges such as massive investment outflows and falling living standards. Time will show whether abandoning US dollars will help Turkey recover from the crisis.
