Understanding Turkey’s Bold Plan To Stabilize the Lira
Odd Lots
Bloomberg
4.5 • 2K Ratings
🗓️ 3 January 2022
⏱️ 48 minutes
🧾️ Download transcript
Summary
The Turkish lira was incredibly volatile in 2021. After getting crushed and falling to record levels, it bounced back in the middle of December after the government announced an unconventional plan to encourage Turkish citizens to keep their money in lira rather than converting to dollars. But how does it work? And can it actually work over the long term? On this episode we speak with Lütfullah Bingöl, an economist at Albaraka Türk Katılım Bankası on how the program might actually work. He likens the program to a free lira put option offered to people who keep their money in the domestic currency.
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| 0:54.2 | Hello and welcome to another episode of the Adlots podcast. |
| 0:58.5 | Joe, why isn't Paul? |
| 1:00.4 | And I'm Tracy Alloway. |
| 1:02.1 | It's pretty incredible how like every, you know, for the last several years, maybe five, |
| 1:07.1 | six, seven years, I feel like there is this rhythm where maybe like every nine months or every year, |
| 1:14.0 | the world really turns its focus to what's going on with Turkey, |
| 1:18.3 | what's going on with Turkish monetary policy, and what's going on with the Lira. |
| 1:23.4 | Yeah, I know what you mean. |
| 1:25.2 | It does seem to pop up like at least once a year. |
| 1:27.8 | And suddenly everyone's very focused on it. |
| 1:29.7 | And then within a month or two, people seem to have forgotten it, |
| 1:33.0 | or at least it's moved out of the limelight. |
... |
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