The latest corruption claims in banking sector of Turkey may
show considerable effects which have already started to spread
several areas of the Turkish economy. With the arrestment of
general manager of a state bank, all attentions draw to Turkish
anti-corruption law and concerns increasing among government
officials and investigators.
Impacts to the Economy
The effects of corruption claims on the economy side are quite
gloomy. Following the alleged corruption claims, the value of
Turkish Lira has decreased and lowered around TRY 2.15 against the
USD as of 28 December 2013. Latest statements by the Central Bank
made it clear that, the Bank itself will intervene and inject
currency of minimum USD 450 million on a daily basis until the end
of 2013 in order to rein in the upward swing of the USD. However
the concerns for Turkey's future do not express itself only on
the foreign currency exchange rates but on the inflation rates as
well. Turkish Central Bank had
