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Elections in Turkey: Erdogan’s campaign with petrodollars and rubles

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Elections in Turkey: Erdogan’s campaign with petrodollars and rubles

Confident of his re-election in tomorrow’s second round of presidential elections, Mr. Tayyip Erdogan he feels he has the luxury of talking candidly and gratefully about the invisible sponsors who, in their own way, contributed to this difficult battle for his political survival. During his interview to the TV channel CNN Turkacknowledged that the Arab states of the Persian Gulf during the pre-election period carried out rescue liquidity injections in Turkish economywho reeled from his steep fall lb. and the depletion of foreign exchange reserves.

“Our economy, our banking and exchange system are strong enough. Meanwhile, some Gulf states were fueling the Turkish system exchange. This happened recently and it calmed the central bank and the markets,” the Turkish president said, adding: “After the elections this Sunday, you will see these leaders come to Turkey. I will also go to their countries to express my gratitude.”

According to international news agencies, Ankara generated about $28 billion of foreign exchange inflows through swap deals that it concluded with United Arab Emirates, Qatar, Saudi Arabia, China And South Korea. The aid from these countries cushioned the effects of an outflow of Western investors, which has weighed heavily on the Turkish central bank’s foreign exchange reserves, jeopardizing servicing its borrowing needs.

After violent clashes with Saudi Arabia and other Gulf Arab states (except Qatar) over the past decade over his support for the Muslim Brotherhood, Erdogan has embarked on a path of reconciliation with the leaders of those states in recent months. His pragmatic turn brought about the desired results in a crucial area of ​​the economy, although the compromises that the Turkish president was asked to offer to the Arab monarchies have not yet been fully clarified. However, despite foreign aid, market pressure has continued even after the first round of the election – yesterday the pound touched the 1:20 mark against the US dollar – and many analysts suggest that Erdogan, whether he likes it or not, will be forced to change. economic policy if he is re-elected.

On the eve of tomorrow’s second round, the outgoing president returns to accusations of collusion between Kılıçdaroğlu and the Kurd.

In the same interview, the Turkish strongman tried to unite, blaming his opponent, Kemal Kilicdaroglu, responsible for pre-election anger and polarization. “If we win, God willing, in the showdown on May 28, each of the 82 million Turks will belong to the winners. Let others continue to cultivate tension and polarization, poisoning the political debate. This does not concern us,” the Turkish President said.

However, despite his leniency, he has not hesitated to revert to his venomous accusations of collusion between his Kemalist rival and Kurdish “terrorists”, which he includes the leadership of the pro-Kurdish HDP party, a parliamentary force voted for by 8.9% of citizens. . If Kılıçdaroğlu wins, “terrorist organizations and stockbrokers in London will win,” Erdogan said.

For its part, the Kemalist candidate has filed a lawsuit against the president and his party over what he claims was a hacked video released to fuel conspiracy theories about his secret deal with the Kurdish separatist group PKK. Unlike the first round, this time the polls predict Erdogan’s victory by a smaller or larger margin. According to public opinion polls last week, 53.2% of citizens voted for the outgoing president, and 46.7% for the opposition candidate.

Author: Reuters, AP

Source: Kathimerini

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