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| Erdem Basci, Turkey’s central bank governor |
Everyone recognizes Turkey’s challenges with hot-money flows, especially over the past two years. Just last month, for example, the central bank governor noted a “re-acceleration in capital inflows“. But the central bank governor’s unconventional policies and multiple targets to deal with this have brought hostility, confusion and praise. “He’ll either win the Nobel Prize or it’ll end in tears,” was the verdict of a prominent emerging markets economist on Erdem Basci’s policies.
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