Beril Akman
Turkey Deputy Bureau Chief at Bloomberg News
Bloomberg News (@business) reporter covering Turkish economy & government || tweeting about anything & everything || views my own
Articles
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1 day ago |
bloomberg.com | Beril Akman
(Bloomberg) -- Turkey’s official reserves fell by $15 billion in March, the steepest decline since the 2023 presidential elections, reflecting the extent of concern that’s gripped investors after the jailing of a prominent opposition politician. Balance of payments data, the broadest measure of trade in goods and services, showed a $4.1 billion deficit in March, compared with a revised shortfall of $4.3 billion the previous month, according to the Turkish central bank.
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2 days ago |
bloomberg.com | Beril Akman |Selcan Hacaoglu
Ethnic Kurds hold a poster of Abdullah Ocalan during Newroz celebrations in Diyarbakir, Turkey, on March 21. (Bloomberg) -- Tens of thousands of people have been killed in the four decades since Kurdish separatist group the PKK took up arms against the Turkish government. On May 12, the group announced it would lay down its weapons and disband, heeding a call from its imprisoned leader Abdullah Ocalan.
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6 days ago |
bloomberg.com | Beril Akman |Tugce Ozsoy
Fatih Karahan(Bloomberg) -- Turkey’s monetary chief defended the central bank’s decision to sell tens of billions of dollars of reserves to stabilize the lira in recent weeks, striking a defiant tone in the face of criticism from politicians. The moves were necessary to “avert excessive volatility in the exchange rate,” Governor Fatih Karahan said.
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1 week ago |
bloomberg.com | Baris Balci |Beril Akman
Shoppers browse garments for sale at the Findikzade market in Istanbul. (Bloomberg) -- A slowdown in Turkey’s inflation lost momentum in April, after a sharp selloff in lira assets triggered by the jailing of key opposition figure Ekrem Imamoglu. Annual consumer price growth fell to 37.9% in April, compared with 38.1% in March, the Turkish Statistical Institute said. Economists surveyed by Bloomberg expected a reading of 38%.
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2 weeks ago |
bloomberg.com | Tugce Ozsoy |Beril Akman
Turkish lira banknotes. Photographer: Moe Zoyari/Bloomberg(Bloomberg) -- The pressure on Turkey’s lira is showing early signs of easing, with the central bank pushing ahead with more aggressive tightening to provide a buffer from domestic political and global trade risks. The weighted average cost of funding from the central bank rose to its highest level this year — 48.8% as of Monday — according to the latest data compiled by Bloomberg.
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Turkey's reserve drop in March -- the month of Istanbul Mayor Imamoglu's jailing-- was the largest since the May 2023 national elections, per BoP data released today https://t.co/O3W2lJ60nB
*TRUMP FLOATS A CHANCE HE WILL STOP IN TURKEY ON THURS
After four decades of fighting that left tens of thousands dead, outlawed group PKK has announced it will lay down its weapons. Here's what this could mean for Turkey and the wider region || our explainer with @SelcanHacaoglu https://t.co/SMBOKal20s