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Turkey may be edging towards capital controls

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TURKEY

A score below 100 indicates a pessimistic outlook -- the index has not exceeded 100 since March 2018. Increasingly frequent and heavy-handed interventions by the Turkish Central…

Political challenges in Lebanon face the IMF agreement

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LEBANON

The government had met a number of the IMF’s conditions, including the passage of a capital control law and an electricity sector reform plan. It had also completed an audit to…

Turkey is facing a severe balance of payments crisis

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TURKEY

The dramatic fall in the lira is turning a currency crisis into a full-blown debt and liquidity crisis. President Recep Tayyip Erdogan is taking an increasingly defiant stand…

Turkey’s illiberal economic model will extend further

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TURKEY

Erdogan spoke with pride of imposing additional customs duties to protect domestic industries, cheapening credit and launching a national car project. Economic policies are…

Turkey's return to economic orthodoxy may waver

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TURKEY

The statement implies that a return to economic orthodoxy is likely, following two years of unorthodox policies built around Erdogan’s preference for low interest rates. The…

Egypt weathers COVID-19 blow but debt risks loom large

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EGYPT

The IMF praised Egypt’s “resilience” to the COVID-19 shock and encouraged Cairo to maintain its focus on fiscal consolidation while broadening structural reforms -- mainly to ease…

Politics will exacerbate Lebanon’s economic crises

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LEBANON

Lebanon also only has a caretaker government with restricted powers, at a time when the economy has contracted for four consecutive years. A staff-level IMF package worth USD3bn…

Lebanese elites’ economic rescue planning may fail

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LEBANON

After six weeks of protests that began when the government tried to cut its fiscal deficit by increasing indirect taxation and reducing public services, Lebanon is now rapidly…

Turkey’s currency is likely to depreciate in 2023

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TURKEY

The stability of the lira since June 2022 is primarily a result of President Recep Tayyip Erdogan’s government shoring up the currency despite cutting interest rates. The…

Economic collapse drives Lebanese brain drain

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LEBANON

Unhappiness in Lebanon reflects the country’s rapid decline from middle-income to low-income status. The brain drain is depleting vital sectors of staff, although it does bring…