“Why Biden’s Presidency is Targeting Erdogan’s Turkey Economy”

In an exclusive interview with Sputnik, Davutoğlu considered that the American annoyance is due to the reason why Ankara maintained good neighborly relations with Russia after the launch of the military operation in Ukraine, adding that Turkey also does not join the Western sanctions against Russia, which makes Washington angry.

Davutoglu pointed out that back in 2020, Biden publicly stated that it was necessary to support the Turkish opposition in order to overthrow Erdogan through elections, noting that it was no coincidence that after Biden became president of the United States in January 2021, the Turkish economy, which has become one of the The main “targets” of large Western financial institutions.

The Turkish expert considered that the main objective of this step is to reduce the confidence of Turkish citizens in the current Turkish authorities, by weakening the Turkish economy, and thus working to turn public opinion against President Erdogan, and it is no coincidence that on that day, on the eve of the second round of the presidential elections in Turkey, the lira recorded a record low of 20 liras per dollar.

The expert concluded by saying that Erdogan’s victory in the second round of the presidential elections means that the pressure of large Western financial institutions on the Turkish economy will continue, which will negatively affect the price of the Turkish lira.

In a related context, a high-ranking source commented to “Sputnik” agency, on the rise of the Turkish lira, by saying that the currency’s decline came through the increasing demand for it through credit cards and loans, and that some people spent money to obtain US dollars, adding that the central bank, in turn, held access to Turkish lira The result of this was an increase in interest on the Turkish lira, but this percentage is temporary.

The source suggested that the Turkish lira would return to its levels after the presidential elections.