IbrahimAbi

Grey wisdom
Watch The Lira Now
I don't see those rates on XE or local bank. £1=11.87TL at the moment.
That will be the Sterling buying rate I guess. it is the rate shown on the garnati website, as I am not changing money every day I just use this as a guide each day. It does not change my point though, as it is higher than it has been recently.
 

immac

Senior Member Has-Been
Watch The Lira Now
Banks are closed today, I believe, so you are looking at Tuesday's rate. It is much lower than it has been for some time.

Ian
 

enoch

Member
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Just read the IMF is putting out 650 billion dollars in August for covid hit countries and Turkey will get 6.5 billion.
 

IbrahimAbi

Grey wisdom
Watch The Lira Now
Just read the IMF is putting out 650 billion dollars in August for covid hit countries and Turkey will get 6.5 billion.
Is it a loan? What is the interest rate? Problem is , if it is a loan it will be repayable in hard currency.
 

Camden

Member
Watch The Lira Now


Just read the IMF is putting out 650 billion dollars in August for covid hit countries and Turkey will get 6.5 billion.

Is it a loan? What is the interest rate? Problem is , if it is a loan it will be repayable in hard currency.

I should have posted it sorry been a bad day today. I think it's free money but I will have a look.


You have heard the phrase, "There ain't no such thing as a free lunch"


As last week’s meeting of G-20 finance ministers in Venice, Italy, wrapped up, there was one big winner: the International Monetary Fund (IMF). Under the guise of assisting countries in their efforts to finance COVID-relief efforts, the IMF will issue $650 billion in special drawing rights (SDRs). That’s a whopping 120 percent increase in the stock of outstanding SDRs. These will be distributed to the IMF’s 190 member countries in proportion to their quotas.

. " Never one to let a crisis go to waste, the IMF has used the COVID pandemic to strike gold."

ctnd
 

enoch

Member
Watch The Lira Now









You have heard the phrase, "There ain't no such thing as a free lunch"


As last week’s meeting of G-20 finance ministers in Venice, Italy, wrapped up, there was one big winner: the International Monetary Fund (IMF). Under the guise of assisting countries in their efforts to finance COVID-relief efforts, the IMF will issue $650 billion in special drawing rights (SDRs). That’s a whopping 120 percent increase in the stock of outstanding SDRs. These will be distributed to the IMF’s 190 member countries in proportion to their quotas.

. " Never one to let a crisis go to waste, the IMF has used the COVID pandemic to strike gold."

ctnd
All I saw was a shorter version not in detail. But some people will be getting told its free money?? Thanks for putting that on
 

Akasya

Postless Pointer
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The IMF oes participate , with it's member countries consent , in a debt forgiveness programme . Who , where , and when is at the suggestion of the IMF and behest of member states ,
Steve
 

Camden

Member
Watch The Lira Now
The new Turkish currency it's like Gold ... from 500tl a ton to 1,250TL ton ... not a bad investment.

Due to drought, there is a shortage of hay in many parts of Turkey, especially in the Konya Plain. The price of straw, which was 500 liras per ton last year, increased to 1,250 liras this year.

The straw, which the farmer procured cheaply last year , has now turned into an investment tool. Due to drought, there is a shortage of hay in many parts of Turkey, especially in the Konya Plain.


9-saman_16_9_1626824645-880x495.jpg
 
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Camden

Member
Watch The Lira Now

THE MOST VULNERABLE COUNTRY ARGENTINA, TURKEY FIFTH

Netherlands-based Rabobank focused on the most vulnerable countries in the face of rising inflation expectations in developed countries. While Turkey was the fifth most fragile country among 18 emerging economies, attention was drawn to its high current account deficit, high foreign currency debt and low reserves.


Examining the vulnerabilities of developing countries' economies by taking into account various factors, primarily foreign currency indebtedness, foreign trade position and interest rate risks, the bank pointed to Argentina as the most fragile country.

Turkey ranked fifth in the list of vulnerabilities, which includes 18 countries. Hungary was second on the list, Chile was third, and Colombia was third. South Africa, Philippines and Brazil followed Turkey in vulnerability.


 

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