Islam Times - Turkish People Protest against Erdogan's Government over Lira Collapse

Islam Times - Turkish people took to the streets on Tuesday night to protest the deteriorating economic situation and the devaluation of the Turkish lira against the US dollar.

Turkish people took to the streets in Istanbul and Ankara chanting slogans against President Recep Tayyip Erdogan and the ruling party.

There has never been such a catastrophe in the history of the republic,” said Kemal Kilidaroglu, leader of the opposition Republican People’s Party, blaming the fall in currency against President Recep Erdogan, who has led the country since 2003.

By the evening of November 23, 13.4 lire was given for one dollar. After a record fall in the national currency, people are afraid of rising food prices.

Residents of Ankara and Istanbul took to the streets with their pots and pans to protest against the collapse of the national currency.

In the city of Batikent, near the Turkish capital, citizens chanted the slogans “Erdogan’s resignation” and “Government’s resignation”.

In Istanbul, members of the Labor Party of Turkey made a media statement in front of the Central Bank after the march. Members of the Turkish Communist Party also took part in the protests. The police closed off the Taksim square in Istanbul.

The lira has lost 25 percent of its value this year mainly due to concerns over monetary policy credibility as Recep Tayyip Erdogan pushed for lower interest rates to boost growth despite inflation running near 20 percent.