Bloomberg HT Discusses Banking Crisis with World Famous Economist Jeffrey Sachs

Director of the Columbia University Center for Sustainable Development at Columbia University, Prof. Dr. Jeffrey D. Sachs made evaluations about the banking crisis in his meeting with Bloomberg HT.
In the assessment made on this issue, he stated that the tightening of credit conditions required in the current situation is putting pressure on banks, but that steps should be taken by considering weak banks in the decisions to be taken by central banks.
In his opinion about the monetary policy that the Central Bank of the Republic of Turkey can follow after the elections to be held in Turkey, he stated that Turkey is not an investable country at the moment and that the government after the election should determine a harmonious economic policy.
After the banking crisis that started in the United States of America and then spread to Europe, some economists said in a statement that the rate hikes of the US Federal Reserve (Fed) and (ECB) European Central Bank caused the banking system to destabilize and the current situation in the credit conditions It was stated that the necessary tightening put the banks under pressure.
Sachs stated that due to the economic measures taken due to the situations caused by the pandemic, the US Federal Reserve (Fed) and (ECB) European Central Bank had to take these steps.
In the statement made by Sachs on how the post-election portfolio investments and foreign direct investments in Turkey will affect, Turkey is seen as a risky country and not an investment-grade country. It was stated that the future government after the election should be able to get more direct investment by determining a coherent economic policy.