British newspaper: Erdogan pleads with Washington for money

Erdogan, whose economy suffers from successive breakdowns, desperately tries to plead with the United States for money, but experts are unlikely to accept the latter as a result of Erdogan's senseless policies.

The British newspaper "Arab Weekly" published a report in which she talked about Turkey's desperate appeal to the United States for a dollar swap line, to help as its foreign currency reserves falter, but experts say it is unlikely that the US Federal Reserve will move in because of Washington's faltering relationship with Ankara, and American financial doubts about Turkey's economic prospects.

"It appears that the reasons for the need for trade-offs in Turkey do not match the stated goals of the US Federal Reserve, and it is also difficult to imagine that the Federal Reserve will implement trade-offs for a country that has some rough relations with the United States," said American economist William Dudley.

While Dudley said it was possible to reach an agreement if the White House interfered, the US economist doubted that the Federal Reserve would make such a decision "unilaterally".

The United States has not commented on Turkey's demand for a swap line, which is generally provided only to reliable credit-rated countries.

Washington and NATO are at odds with Ankara over its purchase of a Russian S-400 defense system last year and the conflicting targets in war-torn Syria. Turkey may face US sanctions if it activates the Russian system.

Even as the Turkish economy collapses into chaos, Erdogan has refused to turn around on major domestic fiscal policy issues, which he gradually assumed responsibility for over 18 years in power.

Erdogan ruled out any loan agreement with the International Monetary Fund last month, while accusing unspecified foreign powers of masterminding a plot to destroy the Turkish economy.

"The palace has its own economic doctrine, and is very unconventional, and is not inspired by any well-known economic theory, which will inevitably lead to a crisis," said Attila Yesilada, a Turkish analyst, that Erdogan's objections to the IMF had nothing to do with his political recommendations, his aim was to control Unbridled and impunity in the rule of Turkey, and any oversight or the necessity of accountability for its policies disturb him.

Ankara reached another negative index last week when its currency fell to a record low against the dollar.

While the Turkish economy has suffered from tensions for years, there is no doubt that the crisis may be exacerbated by the outbreak of the coronavirus, which will lead to the suspension of most businesses.

After failing to enact early preventive measures, Turkey suffers from the worst crisis in the Coruna outbreak in the world, with more than 140,000 cases recorded and nearly 4,000 deaths.

In addition to the worsening economic problems, the crisis has highlighted the poor bio-health sector management in Turkey, which lost thousands of state employees because of the indiscriminate cleansing of Erdogan suspects after the year 2016, including months of viruses' scientists in Turkey, Dr. Mustafa Oolasla where he was excluded from the country's health response team.

With Turkey's crises escalating on all fronts, Erdogan's authoritarian tactics make him the main target of blame, analysts say.

"Erdogan has gradually succeeded in replacing Turkey's constitution and entrenching power in the hands of the presidency," says Nate Shinkan, director of private research at Freedom House, a US-based anti-democracy monitoring organization.

"When the country faces the economic repercussions caused by coronavirus, there will be few remaining scapegoats to blame them, and it may itself be a victim of its success in consolidating power in its hands," he added.

Ironically, Erdogan is now forced to turn to the US administration, which has spent years moving away from it.

"If Turkey gets the barter line, it will be because Turkey made concessions behind the scenes," consultant Michelle Harris told the Financial Times.

T/S

ANHA


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