Turkey has long been enjoying high growth rates with the support of speculative financial
flows and a boom in the construction industry. However, the Turkish economy at the same
time was step-by-step becoming more fragile during the recent years. The diplomatic crisis
between the US and Turkey gave a push to the economic downturn in Turkey that was
already coming. Indeed, the Turkish Lira already depreciated by more than 20% against
USD in 2018 before the diplomatic tension peaked. The depreciation in the Turkish Lira …