Economist Podcasts Debtor luck next time? Meeting Sri Lanka’s new president
Aug 19, 2022
Leo Marani, Asia editor for The Economist, shares insights on Sri Lanka's new leadership under Ranul Vikramasingha and their ambitious plans to restore stability following widespread unrest. John O'Sullivan, an Economics writer, contrasts Sri Lanka's economic crisis with Turkey's growth amidst rampant inflation, raising eyebrows at President Erdogan's unusual policies. The discussion weaves through the public's expectations for governance and the socio-political realities that frame these nations' futures.
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Turkey's Economic Puzzle
- Despite soaring inflation, Turkey's economy continues to grow, defying expectations.
- Factors include businesses adapting to instability, consumer spending on durables, and booming exports.
Growth Amid Inflation
- Turkey's economic growth amid high inflation is unusual and partially attributed to its history of inflation.
- Consumers buying durables and increased exports contribute to this growth.
Adapting to Inflation
- Turkish businesses adapt to inflation due to past experience, while consumers buy durables to hedge.
- The weak lira boosts exports, helped by supply chain issues in China.