‘If they have their dollars, we have our Allah’ – This is how the President of Turkey responded to the historic drop in the value of the lira in August this year before calling for boycotts of US products and discouraging the citizens from exchanging their liras into foreign currency in the name of defending the national economy against the so-called interest rate lobby and foreign powers. Only a few days later a swap agreement between the central banks of Qatar and Turkey was announced amidst an extreme hike in inflation and continual fall in the value of the domestic currency. There was a pron ..
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The article we have excerpted here was originally published by the Review of African Political Economy. To see the full article, click here. To discuss the extraordinary events in Sudan and Algeria that have shaken these countries – and the continent – to the core in recent months, roape.net has asked some of our c ..