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Nonetheless, financial crises may be treacherous for politicians. Simply ask the Argentines, who, amid a devastating foreign money collapse and debt disaster in late 2001, went by means of 5 presidents in two weeks. Turkey isn’t there but, and, for various causes, together with its extra manageable overseas debt, will most likely keep away from an Argentine-style meltdown. But authoritarian leaders like Erdogan have repeatedly fallen amid financial chaos. In 2019, Sudan’s President Omar Hassan al-Bashir was deposed in a navy coup after demonstrations that began in response to hovering prices of meals and gas. Some consultants cite excessive meals costs as one issue within the Arab Spring. To remain in energy, autocrats are inclined to change into extra autocratic. In Venezuela, President Nicolás Maduro — an in depth Erdogan ally — survived regardless of hyperinflation, and the horrific humanitarian disaster it induced, by dragging the nation nearer towards full dictatorship.
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