Turkey’s financial disaster entered a tumultuous new segment, with its forex plunging to a contemporary document low and President Recep Tayyip Erdogan making ready to satisfy the chief of a regional rival looking for international funding.

The lira slid up to 12% Tuesday, threatening to additional shake the economy via undermining self belief, making it more difficult for companies to repay foreign-currency debt and extending the price of imported items, particularly oil. That may push the inflation price, recently at round 20%, even upper, additional hurting families, analysts say.

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