To support Lira course: Erdogan sold out of despair already the billion-dollar treasure of Turkey

To support Lira course: Erdogan sold out of despair already the billion-dollar treasure of Turkey

The Turkish government under head of state Erdogan is doing everything to stabilize the economy. Now it's been announced that the country has sold 118 tons of gold in just ten weeks.

The equivalent is a good six billion dollars, as the "Frankfurter Allgemeine Zeitung" reports. Experts are not sure what Erdogan is aiming for. A Commerzbank expert told the newspaper that Turkish gold reserves would not be enough to support price.

In recent years Turkey has increased its gold holdings. Before the selloff, the country hoarded 594 tons worth about $ 30 billion.

Also in the video: IMF in great concern: Trade war would plunge Turkey into the abyss

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