Turkish crisis
It seems that Turkey is one of the most countries that incur for economic crisis. ... This crisis pushed the inflation rate to an idea level. ... 1-The seeds of the 2001 crisis. The first seeds of this crisis were the rising trade and current account deficits due to the use of the exchange rate as a nominal anchor imbalance had risen beyond expectations, and the authority response had been too little too late. ... But in November 200, the country experienced a very severe financial crisis. ... 3- The effects of the 2001 crisis: The high interest rates and ambiguous situation in the economy decreased the domestic demand. ... Also we can’t avoid that this crisis affected Turkish Treasury’s debt program and cost of financing maturity of debt. ... In April 2001, the Turkish government announced a new program to overpass this financial and economic crisis, so they planned that strategy which is based on: - An immediate phase where the dealing with the crisis in the banking sector will be taken with the aim of decreasing the uncertainties in the financial markets and overcoming the crisis environment.