About This Source - DW News
DW News is a global English-language news and information channel from German public international broadcaster Deutsche Welle, established in summer 2015.
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DW News published this video item, entitled “Turkish lira in freefall over Erdogan’s ‘unorthodox’ inflation theory | DW News” – below is their description.
In Turkey, the coronavirus pandemic weighs on an already ailing economy. The Turkish lira plunged to almost record-levels after President Erdogan fired his third central-bank chief in two years … to install a like-minded critic of high interest rates. A rate decision is due today.
Restaurant manager Rengin Atac is at his wits end. The lockdown forced him to shut his business with its 15 employees for months, and now into Ramadan as well – because of rising coronavirus infection numbers. To make matters worse, inflation is running at a rate of 16 percent per month.
A lot of Turks have lost faith in their economy. Many are unemployed and can barely afford anything. As the lira’s value plummets, shopkeepers and bakers are forced to constantly raise their prices. Flour and other ingredients are becoming more expensive by the day. The pandemic has also kept tourists away, which for many was their main source of income.
Turkish President Recep Tayyip Erdogan, Turkish president says he is “determined to bring the rising inflation back to single digits.”
But it isn’t the first time Erdogan proclaimed that, and the situation still hasn’t improved. Will his new central bank chief really be the game changer everyone hopes for?DW News YouTube Channel
In This Story: COVID-19
Covid-19 is the official WHO name given to the novel coronavirus which broke out in late 2019 and began to spread in the early months of 2020.
Symptoms of coronavirus
The main symptoms of coronavirus are:
- a persistent new cough (non productive, dry)
- a high temperature (e.g. head feels warm to the touch)
- shortness of breath (if this is abnormal for the individual, or increased)
Latest News about Covid-19
Below are stories from around the globe related to the 2020 outbreak of novel Coronavirus – since the WHO gave the Covid-19 naming. Most recent items are posted nearest the top.
5 Recent Items: COVID-19
In This Story: Lockdown
During the 2020 Covid-19 epidemic, lockdown has come to mean the practice of attempting to control transmission of the virus by means of restricting people’s movement and activities on a broad scale, usually on a national or state-wide basis.
3 Recent Items: Lockdown
In This Story: Turkey
Istanbul, which straddles Europe and Asia, is the country’s largest city, while Ankara is the capital. The majority of the population identifies as Turkish, around 20% identify as Kurdish.