Erdogan is in trouble because of the fall of his country's economy after the lira fell

Foreign investors have lost confidence in the Turkish economy after the lira fell

Bloomberg network revealed, Wednesday, that foreign investors do not trust the Turkish economy, despite the attempt of President Recep Tayyip Erdogan to paint a positive picture of the status of banks, explaining that investors look with suspicion at the situation of banks, in Turkey, in light of the great decline of the lira. The bonds of three of the lending institutions in Turkey declined, after their circulation fell to levels described as "worrying", in recent days, as the bonds were affected in this way, because investors do not trust the ability of the debtor institutions to fulfill their obligations, that is, to repay the loans they owe.

The agency confirmed that last month, the bonds of any company in Turkey did not reach the alarming level that was recently reached, amid calls for urgent measures to be taken to save the situation.

Experts believe that the recent decline of the lira brings to mind what happened in 2018, when the lira plunged in a record and unprecedented way, especially in case of the tense relations with Washington

At that time, companies were forced to reschedule billions of dollars,after debtor institutions were unable to repay foreign loans due to the high cost.

London-based financial analyst Ksenia Michankina says the currency's weakness will affect banks, as it burdens them with non-performing, non-repayable loans.

Data indicates that Turkish corporate bonds amounting to $ 2.2 billion are trading at very low levels recently.