Since the mid-1980s, with the aim of strengthening the infrastructure of Turkey, Prime Minister Turgut Özal borrowed abroad. To attract loans to the country, Özal preferred the monthly "exchange rate corridors", instead of delaying the inevitable devaluation for a long time.After the end of the Cold War, Turkey became acquainted with the first severe devaluation in early 1994. Due to foreign financial debts, the head of the government Süleyman De...

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