“Where is the $128 billion?” a question that has become the popular slogan in Turkey with posters on billboards all over the country. The slogan has also became a trending topic on social media. People are asking a straightforward question: “Where is the money? Who stole it?”
The ruling AKP, annoyed by this campaign, has deemed the banners on billboards “Insult to the president.” Police forces removed the banners from the billboards and also from the windows of the CHP offices in Istanbul and elsewhere overnight.
The main opposition Republican People’s Party (CHP) in Turkey has accused Erdogan and his party of misuse of central bank foreign reserves to uphold the Turkish Lira in 2019-20.
Economists and opposition parties have criticized the government for spending the Central Bank's foreign exchange reserves in order to keep the US dollar from further rising against the Turkish lira and draining the reserves as a result.
Until the replacement of the finance minister and the Central Bank governor in November, the government had implemented an unconventional policy suggested by Erdogan, trying to keep both the interest rates and the foreign exchange rates low.
Turkish President Recep Tayyip Recep Erdogan began a long-rumored cabinet reshuffle yesterday , dismissing two ministers over corruption accusations.
Erdogan and his AKP are working to revive waning voter support amid an economic downturn marked by high inflation and an ongoing surge in national COVID-19 cases.
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