Turkish President Recep Tayyip Erdogan visited Qatar on Thursday, July 2 under the weight of Turkey’s economic crises, especially due to the decline in the value of the Turkish lira, as he considers Qatar his bank, as Doha is the main supporter of terrorism in the Middle East.
Erdogan’s terrorist wars
Erdogan launched his war in Syria and supported the militia factions and terrorist organizations there, and then sent many of them as mercenaries to the quagmire in Libya. All these wars that the sultan of terrorism is fighting had to be funded by someone easily subjugated and impersonal, which are qualities found in Qatari Emir Tamim bin Hamad Al Thani.
Money for protection
The Turkish news website Ahval reported that the primary goal of Erdogan’s visit to Qatar was to provide Turkish protection for Qatari wealth, since Doha has a Turkish military base to protect the emir’s throne.
In the same context, the Turkish Central Bank announced a currency swap agreement with Qatar amounting to $15 billion, to return to the decline to 6.79 lira against the US dollar.
Qatar had also recently sent Turkey about $10 billion to invest and increase the value of the Turkish lira.
According to the New York Times, the trade exchanges in the local currencies of the two countries will not contribute to raising the Turkish lira due to the significant decline experienced by Turkey in terms of its domestic currency.
For his part, Mohamed Hussein, a professor of international relations at Cairo University, told the Reference that the trade cooperation between the two countries will not bear fruit for the Turkish economy, especially after the Turkish economy collapsed due to the corona pandemic and Erdogan’s unjust interference in Syria, Iraq and Libya.
Hussein stressed that the Qatari economy is also experiencing major financial crises currently due to Erdogan’s expansionist policies and the spread of the corona virus, so no matter how Doha tries to help the Turkish economy under the heading of investment, it will not be able to save Erdogan from the collapse of his country’s economy.