Chartbook #63: Turkey's financial crisis

Version: 4 (current) | Updated: 12/2/2025, 9:38:31 PM

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Description

Chartbook #63: Turkey's Financial Crisis

Overview

Chartbook #63 is a text‑based newsletter published on 24 December 2021 by the online series Chartbook. The newsletter is written in English and is part of a monthly series that presents concise, data‑driven analyses of contemporary economic and political events. The document is available in the archive as file45002294chartbook63turkeysfinancialcrisis.

Background

The newsletter was authored by Adam Tooze, a senior fellow at the Hoover Institution and a noted economic historian. It was produced by the Chartbook platform, which aggregates short analytical pieces for a global audience. The piece draws on data from Turkey’s statistical agency (TUIK), commentary from economists such as Mohamed El‑Erian, and coverage from outlets including the Financial Times and Al‑Monitor. The rights holder is the publisher; all rights are reserved.

Contents

The text focuses on the sharp depreciation of the Turkish Lira that accelerated in September 2021. It examines the macro‑financial dynamics—high inflation, a widening current‑account deficit, and a run on the currency—while situating them within Turkey’s political landscape, including the role of President Recep Kilicdaroglu and the broader political crisis. The newsletter incorporates charts and tables illustrating exchange‑rate movements, inflation trends, and fiscal indicators. It also discusses potential policy responses and the implications for Turkey’s future economic stability.

Scope

The analysis is confined to Turkey and the period from September 2021 through the newsletter’s publication date in December 2021. It covers the financial crisis, currency depreciation, inflation, and associated political developments. The piece does not extend to comparative studies of other emerging‑market crises or to long‑term projections beyond the immediate aftermath of the Lira run.

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Version History (4 versions)

  • ✓ v4 (current) · 12/2/2025, 9:38:31 PM
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  • v3 · 12/2/2025, 9:25:25 PM · View this version
    "Added knowledge graph extraction"
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