Asia · Western Asia · Unitary presidential constitutional republic
Events where Turkey was directly involved or significantly affected.
Currency collapses beginning in Thailand spread across East Asia, causing severe economic downturns in South Korea, Indonesia, Malaysia, and others.
Source: IMF
A political dispute triggered a banking crisis, with the lira losing 50% of its value overnight. The IMF provided a $16 billion rescue package and Turkey undertook major banking reforms.
Source: IMF / Central Bank of Turkey
The lira lost over 40% of its value against the dollar amid concerns about central bank independence, high inflation, and diplomatic tensions with the US.
Source: Central Bank of Turkey