Turkish Voters Upset Erdogan Competitive Authoritarianism
Note: "Erdogan refused to take an IMF loan to bolster finances because it would mean severe austerity measures being imposed. The net foreign assets figure, a proxy for the country’s financial defences, slumped by $9.4bn between March 6 and March 22 to $19.5bn, the lowest level on a US dollar basis since 2007. Excluding swaps, net foreign assets have stood at less than $11.5bn during the entire month of April, down from $28.7bn at the start of March on the same basis." —Michael Roberts blog
Note: "Erdogan refused to take an IMF loan to bolster finances because it would mean severe austerity measures being imposed. The net foreign assets figure, a proxy for the country’s financial defences, slumped by $9.4bn between March 6 and March 22 to $19.5bn, the lowest level on a US dollar basis since 2007. Excluding swaps, net foreign assets have stood at less than $11.5bn during the entire month of April, down from $28.7bn at the start of March on the same basis." —Michael Roberts blog
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