IMF Managing Director Kristalina Georgieva said that Turkish economist Ceyla Pazarbaşıoğlu would be serving as the head of the IMF's Strategy, Policy and Review Department. Georgieva said that Pazarbaşıoğlu had "profound knowledge and significant experience on how to design policies to help people especially in emerging markets and low-income countries."
Ahmet Haşim Köse writes: Turkey became a weapon-exporting country after 1995, though to a limited extent. The real leap took place during the rule of Erdoğan's Justice and Development Party (AKP). The change that took place in the defense industry during the AKP era has to do with the transformation in the structure of the state/company partnership that operates this sector.
The World Bank issued its latest edition of the Turkey Economic Monitor (TEM) on Aug. 12, in which it pointed to the sharp drop in Turkey's Central Bank reserves. "Though short-term external debt obligations seem manageable, a growing current account deficit and the sharp decline in reserves have heightened external vulnerabilities," it said.
No matter how long or short the COVID-19 crisis lasts, a broad range of working masses, but especially the unskilled labor force will be the ones exceedingly affected. They will lose income and their jobs. As a result, inequality will spread on a mass scale and poverty will soar.