I had the pleasure of interviewing the Turkish Central Bank Governor Fatih Karahan in Istanbul on policy path and guidance. One key message: "we need to maintain our cautious stance"
We won! after a 15-day strike, an agreement was reached with the BBC. Thank you so much everyone for your support and solidarity. Your messages, visits and social media posts helped us get through this ♥️♥️♥️ over and out
mansplaining dominates turkish tv:
four different talk shows and all male guests discussing Istanbul Convention, a treaty that aims to protect women against violence🤦🏻♀️
the note reads “BBC istanbul bureau is not alone. Love from London” ❤️❤️❤️thank you dear friends and colleagues in london for the mugs. we pretty much run on coffee during our strike. Day 11
#BBCdeGrevVar
#BBCTurkeyStrike
@JaredWall01
aynen and their only job is to take a sip from portakal suyu in the morning from a huge kahvalti sofrasi and say they have to run to a meeting . (i always feel so bad for the housemaids that set up that sofra ) so much wasted potential :(
- Our wages melted about 50% within a year due to Turkey’s currency crisis
- We cost the BBC about half what we did in January 2021
- What we are asking for is still less than what we were earning in January 2021
- All we want is a fair offer
#BBCdeGrevVar
#BBCTurkeyStrike
For Bloomberg, we profiled
@ProfBilgeYilmaz
, a professor of finance at Wharton who could become Turkey's next economy czar if the opposition bloc wins against President Erdogan in May elections 1/
you can hear turkish women often chanting “we just want to live”during protests. hundreds of women are killed every year here. turkey withdrew from a key treaty - aimed at protecting women and combatting violence - in the middle of the night
#istanbulsozlesmesi
after hours on youtube, i've finally found a gold mine: turkish astrologers discussing the
#USElections2020
and predicting who will win based on the birth charts of both candidates.
#seemslegit
tomorrow will be our 13th day on strike, asking for decent and fair pay against 36% inflation. the lira lost around 40% of its value in 2021. a 10 second recap of how we got here 👇🏻 (sound on 🔈)
#BBCTurkeyStrike
#BBCdeGrevVar
women are taught self-censor from a very young age: “don’t take a cab by yourself alone at night”, “don’t wear ‘revealing clothes’ if you’re going to go out at night”, “don’t act too friendly to men they’ll get it the wrong way” and hundreds of more survival rules
Turkey’s rapid monetary tightening may have won plaudits on Wall Street, but the central bank now has to persuade local business leaders – who are much less enthralled with soaring interest rates – that it’s for the best via
@economics
people who didn’t wear face masks in turkey’s sakarya province are not only fined and quarantined but they have been obliged to read 10 books. it’s sad that authorities see reading as deterrence
Twitter and other social media platforms have been hailed as playing a key role in Gezi Park protests. What's the atmosphere like six years later? Report on my findings below:
last week i spoke to bbc's fifth floor on the twitter campaign where turkish women mocked sexist language and patriarchal attitudes. i shared some of my fave tweets and bit of my own experience. you can listen to it here:
There's less than a month left until high-stakes elections in Turkey and after two decades in power, President Erdogan is facing the test of his political life. To engineer a victory in May he has been using financial and economic levers at his disposal
men are not taught to understand mutual consent, that “no” means “no”.
we live in a society where you are celebrated because you were simply born male. the idea that men are superior is instilled from a young age.
i see this as the root of the problem.
After Austria, Germany says it is suspending rescue ops in Turkey's Hatay province over security concerns. German groups attribute the tense situation to "shortage of food and problematic water supply in the quake area" according to a media report
many turkish users are celebrating news that turkey is allowing migrant flow to europe. greece and bulgaria meanwhile crack down on the borders. it’s truly heartbreaking because first of all no one would put their children on a boat unless it was safer than the land
Turkey won’t ease a cap on swaps deals in the near-term amid concerns over a weakening lira, per people w/ knowledge of talks. Removing the cap on overseas lira supply at this point could risk an increase in short-selling activity, they said || story with
@kerimkarakaya34
Investors looking to make big bets on Turkish assets will have to wait longer for the country’s policymakers to meet one of their key demands — the lifting of restrictions on the offshore currency swaps market
#scoop
the head of Turkey's state statistics agency TurkStat's consumer price department stepped down just days before the institution released last month's blowout inflation data, sources say via
@markets
as turkish women mock sexist expressions on twitter here is an inspirational idea: two american writers in 2016 reimagined the nyc subway map by changing stations’ names with names of remarkable women, based on where they lived, worked, went to school etc.
We spoke to veteran bank treasurer and Future Party's top economy aide
@kerimrota
on how the opposition plans to overhaul the economy if elected to power
|| w/
@kerimkarakaya34
and
@TurkWonk
Turkish FinMin Simsek was asked about how tolerant the president would be on hard landing. The minister said: no tradeoff between economic growth and disinflation in the long-run and in the short term, whatever tradeoff might emerge is worth it 1/2
Turkish Finance Minister Simsek confirms on TV Bloomberg scoop on officials considering easing offshore regulations, beginning with longer-term maturity restrictions
please support your local journalist (me) by reading this little something i wrote
analysis: Eksi Sozluk, a bastion of free speech in Turkey?
@BBCMonitoring
Erdogan is facing mounting criticism from earthquake survivors and opposition parties over the country’s poor construction record and what they say has been an inadequate response to one of its worst natural disasters
Turkish CenBank Governor Karahan had told Bloomberg in his interview earlier this month that the bank wants to reduce its FX liabilities and review intl deposit agreements. Today the bank said it’s terminating the $5b dep. agreement with S. Arabia
Full story here: A former co-chief executive officer of First Republic Bank met Turkey’s newly appointed finance minister, according to people with knowledge of the matter, after emerging as a potential candidate for the job of running the central bank
An important message from the central bank governor on its reserves policy going forward: The bank will review its international deposit agreements as it seeks to reduce FX liabilities:
what a night: Turkey's Erdogan names a new central bank governor -- Hafize Gaye Erkan -- completing a makeover of the his economic team.
Erkan, ex-Goldman and former co-CEO of First Republic Bank, will be Turkey's first female governor
Turkey’s three state-owned banks are planning to exit Russia’s Mir card system for fear of being penalized by the US Treasury //
@FiratKozok
's exclusive
my lovely friend&colleague
@ilginkarl
did a great story on turkey’s name change. “goodbye turkey, hello turkiye”-watch here📺
and i did a brief bit toward the end of ‘the newsroom’ about the name change’s timing and reaction 🎧
People speaking on the condition of anonymity told Bloomberg that Erkan’s father was a regular presence at the bank and was involved in all affairs, starting with human resources. || with
@kerimkarakaya34
just received the best work advice on tiktok: “never be sad on a weekend/holiday. cry on a workday. get paid for your depression. don’t let capitalism win” *incoming employee of the month*
great summary of some ‘fake news’ we saw this year about covid and climate.. produced by
@SunitiNiti
, and very nicely delivered by
@Shayan86
and
@KayleenDevlin
👏🏻👏🏻
model daria kyryliuk says on instagram that her friends and herself were attacked by security people at cesme’s popular beach of momo. the beach is known to be visited by many celebs. checked their insta, no remarks on the said incident so far
Turkey’s central bank warns lenders in the country against sending dollars to their correspondent counterparts abroad, sources say, its latest move to try to protect the lira ||
@kerimkarakaya34
@aslikandemir
Turkish officials are readying to announce a series of fiscal measures to cut public spending in a bid to support the fight against rampant inflation, sources say via
@economics
a few days ago president erdogan pledged that 2021 would be the “year of reforms” in turkey, vowing to strengthen democracy. today students at bogazici university were teargassed while protesting the controversial appointment of their rector with a presidential decree
Turkish Central Bank Governor Karahan speaking at the QEF today in Doha says the monetary authority remains committed to preserving a tight policy stance. Acknowledges upside risks to inflation outlook but says the bank is ready to act if needed.
Turkey is planning to restrict purchases by domestic investors of new lira bonds sold by multinational lenders, its latest effort to curb short selling of the local currency // our scoop with
@kerimkarakaya34
Turkish Reserve Buildup Is Remedy for Lira With Bad Side Effects:
Turkey’s central bank, once criticized for selling reserves to prop up the lira, is now trying to do the opposite to prevent the currency from gaining too much.
Shakeups at the Turkish central bank are so frequent that many Turks have become voracious readers of the Official Gazette, where such decisions by President Erdogan are published at midnight.
my take on cenbank drama for our newsletter⬇️
Turkey’s main opposition CHP filed a criminal complaint against top government aides for restricting access to Twitter earlier this week during critical hours of search and rescue efforts after two devastating earthquakes via
@bpolitics
President Erdogan unveiled his AK Party's election manifesto today but the pledges are short on economic policy details and the document is unlikely to ease market nerves || story w/
@firatkozok
via
@bpolitics
Turkey’s central bank is moving in full force to defend the lira ahead of the runoff presidential election in less than two weeks || w/
@kerimkarakaya34
and
@aslikandemir
via
@markets
thread: turkey is once again rocked by the killing of a woman: Dr Aylin Sozer.
how she was killed is being emphasised in the media but i don’t think the method changes anything, for a woman has been killed.
I explained why the Istanbul rerun vote is key to Turkey's future — with the help of brilliant
@niti_sin
,
@ilginkarl
and
@paulybrown
See our video below:
*TURKEY'S SIMSEK: WE THINK WE HAVE DONE ENOUGH IN TIGHTENING // comments follow JPM and likes expecting rate hikes as of April after worse-than-expected Feb. inflation print
thread: i wrote an analysis looking at the trade dispute between Ankara and Riyadh last week, arguing how it spiralled out of an intensified regional rivalry. today turkish media is reporting on interesting signals of rapprochement between the two ...
recently wrote a piece on Turkey flexing soft power muscles with pandemic aid for
@BBCMonitoring
.
BBC persian translated and put it up for anyone interested (and has the language capability)
ps thank you
@WJ_Armstrong
for the edit
Some of the world’s largest investors are taking a fresh look at an unloved Turkish bond market that could prove to be next year’s biggest bright spot in the $8 trillion local debt universe of developing nations via
@markets
|| story with
@uguruzyilmaz
refugees are being treated as the creators of the “problem” whereas they are actually the victims of it. the narrative that there is a “refugee problem” just shows the lack of a political will to tackle the issue
as the turkish lira weakens to record lows against major foreign currencies, staunchly pro-gov daily yeni safak blames private banks for “instigating dollarization” and “manipulating” foreign currencies by offering higher interest rates compared to public banks
i spoke to bbc fifth floor on the scepticism surrounding turkey's inoculation programme. listen to me below and count how many times i say 'you know' :) (last 10min of the programme)
Turkish Central Bank Governor Karahan acknowledges that FX-protected accounts (KKM) were one of the contributors to the monetary authority's losses in 2023, along with the rate hikes. Detailed data will be published at general assembly, he says at a panel in DC
Investors not thinking of returning to Turkey in the short-run, per a private BofA document. Inflation, potential political shifts ahead of local elections, doubts about economy team's longevity cited among concerns || story by
@kerimkarakaya34
the government + conservatives/nationalists had been targeting the Istanbul Convention for a while, saying it threatens the traditional family structure and its values. turkey was the first country to ratify the convention in 2011.