Latest Recep Tayyip Erdogan News

Turkey's inflation hits a 19-year high of 36%

Jan. 03, 2022 13:15 PM EST

ANKARA, Turkey (AP) — Turkey’s yearly inflation climbed by the fastest pace in 19 years, jumping to 36.08% in December, official data showed on Monday. The Turkish Statistical Institute said the consumer price index increased by 13.58% in December from the previous month, further...

Ex-Afghan president says had no choice but to flee Kabul

Dec. 30, 2021 09:02 AM EST

ISLAMABAD (AP) — Afghanistan’s former president said he had no choice but to abruptly leave Kabul as the Taliban closed in and denied an agreement was in the works for a peaceful takeover, disputing the accounts of former Afghan and U.S. officials. Former President Ashraf Ghani...

Turkish govt expands probe targeting Istanbul city staff

Dec. 30, 2021 08:49 AM EST

ISTANBUL (AP) — A Turkish court accepted an indictment against suspects from a religious association Thursday in a case that could have political and legal repercussions on the opposition-held Istanbul municipality. The trial against 23 people involved with DIAYDER, which stands...

Turkey: 1 hurt in knife attack on pro-Kurdish party office

Dec. 28, 2021 08:43 AM EST

ANKARA, Turkey (AP) — Police on Tuesday detained a man who wounded one person during a knife attack on a branch of a pro-Kurdish party in Istanbul, Turkish media reports said. The assailant entered the People’s Democratic Party, or HDP, office in Istanbul’s Bahcelievler...

Bulgarian shoppers find bargains in Turkey as lira struggles

Dec. 27, 2021 04:25 AM EST

EDIRNE, Turkey (AP) — Bulgarian shoppers are crossing Turkey’s western border in packed cars and buses, taking advantage of a declining Turkish lira to fuel their own shopping sprees. Their first stop is the currency exchange and then it's off to the markets and grocery stores...

Turkish lira rebounds after Erdogan vows to prop up deposits

Dec. 21, 2021 11:49 AM EST

ISTANBUL (AP) — Turkey's currency made significant gains Tuesday after President Recep Tayyip Erdogan announced extraordinary measures that aim to safeguard deposits in the lira against volatility seen in recent weeks and boost confidence among Turks as they have watched their buying power erode....

Turkey's Erdogan announces moves to encourage lira savings

Dec. 20, 2021 15:26 PM EST

ANKARA, Turkey (AP) — Turkish President Recep Tayyip Erdogan on Monday announced a series of measures to encourage lira-denominated savings, easing the pressure on the beleaguered Turkish currency. Earlier in the day, the lira had tumbled to an all-time low of 18.36 against the...

People pressure governments worldwide to act on inflation

Dec. 18, 2021 06:01 AM EST

BARCELONA, Spain (AP) — Óscar Baños and thousands of fellow truck drivers celebrated Saturday after a threat to idle their engines pushed the Spanish government to adopt measures improving work conditions and checking skyrocketing fuel costs driven by inflation. It's the latest...

Turkey's lira sinks to new low, prompting bank to intervene

Dec. 17, 2021 10:26 AM EST

ANKARA, Turkey (AP) — Turkey’s currency crashed to an new all-time low against the dollar Friday, a day after the Central Bank again lowered a key interest rate despite surging consumer prices, a move in line with President Recep Tayyip Erdogan’s unconventional economic policy. ...

UK raises interest rates as central banks focus on inflation

Dec. 16, 2021 11:50 AM EST

LONDON (AP) — The United Kingdom's central bank on Thursday became the first in a major advanced economy to raise interest rates since the coronavirus pandemic began, as banks controlling monetary policy around the globe shift their focus from stimulating the economy to combating soaring consumer...