Turkey's banking authority lowered the mandated loan-to-assets ratio for deposit banks to 95 percent, formerly 100 percent. The relaxing of the stimulation policy follows record devaluation of the Turkish Lira against the dollar.
Today Turkey’s crisis is not only a health crisis followed by the coronavirus outbreak and an economic crisis triggered by it. Rather, it is a health crisis and an economic crisis triggered by it, on the top of an already ongoing economic crisis due to foreign currency debts of non-financial corporations. Cookie cutter applications of what may work elsewhere will not work in Turkey.