Most fragile economies after Turkey are Argentina, Columbia, South Africa

by

Although there has been a lot of recovery from the 2008 financial crisis there are still many countries with fragile economies.

Argentina has 29% inflation and 9.1% unemployment.

South Africa has 27% unemployment and there were predictions that some cities were on the brink of collapse.

Turkey’s currency has lost nearly 40% of its value against the dollar this year. Turkey has 9.6% unemployment and 12.8% inflation.

Turkey used foreign loans to boost growth after the 2008 financial crisis.

Turkey’s external debt reached $466.67 billion, or 53% of its gross domestic product, at the end of March with about one-fourth in short-term debt which will come due within the year, reported Anadolu Agency, a government-run news agency. In comparison, Deutsche Bank estimates Turkey’s foreign currency-denominated debt at closer to 70% of GDP.

There is a concern that if Turkey defaults on the debt that it could cause problems.

Greece still has 20.2 unemployment. Greece was at the center of the 2008 financial crisis and has barely recovered.
Spain has 15.2% unemployment.
Egypt, Brazil and Portugal have high unemployment and other economic weaknesses.

39 thoughts on “Most fragile economies after Turkey are Argentina, Columbia, South Africa”

  7. Poor old “Columbia” does not appear on any of the indices of economic problems. Apparently their misery derives from the fact that ignorant Americans still can’t spell “Colombia”.

  8. Money is still cheap. My suggestion to all these countries is to tax the rich more, borrow more, and to build infrastructure than will improve the productivity of the economy like bridges, rails, roads.

  9. Poor old Columbia”” does not appear on any of the indices of economic problems.Apparently their misery derives from the fact that ignorant Americans still can’t spell “”””Colombia””””.”””

  10. Money is still cheap. My suggestion to all these countries is to tax the rich more borrow more and to build infrastructure than will improve the productivity of the economy like bridges rails roads.

  11. High rise buildings going up may be due to an increasing population (real estate speculation?). Or perhaps it may be due to a macroscopic misallocation of capital (which we all should be familiar with…), especially since until now in Turkey the interest rates have been purposely kept lower than they should have been by the central bank and even the government admits that the economy has been “overheating”. Or perhaps a combination of both..?

  12. I’m sorry Matteo Martini, your favorite socialist paradise is firmly ensconced as Matteo Credibility Hit #1.

  13. Man, you are soo clueless. They took out their debt in ANOTHER currency (dollars). They have to thus pay that off in dollars. Build more infrastructure? They can’t even adequately manage the infrastructure that they already have. And you appear to never have heard of The Law of Diminishing Returns. Then again, you believe the rich ‘hoard’ their money is Scrooge McDuck money bins, too.

  14. Yup. The top 13 countries having external debt financing problems right now all have one thing in common: That debt…or most of it…is DOLLAR denominated. In other words, stupid foreigners take out debt in another currency other than theirs, then that currency rises in value and they are thus in trouble. But it is all Trump’s fault that Turkey is where it is right now. Yeah. Right.

  15. High rise buildings going up may be due to an increasing population (real estate speculation?). Or perhaps it may be due to a macroscopic misallocation of capital (which we all should be familiar with…) especially since until now in Turkey the interest rates have been purposely kept lower than they should have been by the central bank and even the government admits that the economy has been overheating””. Or perhaps a combination of both..?”””

  16. I’m sorry Matteo Martini your favorite socialist paradise is firmly ensconced as Matteo Credibility Hit #1.

  17. Man you are soo clueless.They took out their debt in ANOTHER currency (dollars). They have to thus pay that off in dollars. Build more infrastructure? They can’t even adequately manage the infrastructure that they already have. And you appear to never have heard of The Law of Diminishing Returns. Then again you believe the rich ‘hoard’ their money is Scrooge McDuck money bins too.

  18. Yup. The top 13 countries having external debt financing problems right now all have one thing in common: That debt…or most of it…is DOLLAR denominated.In other words stupid foreigners take out debt in another currency other than theirs then that currency rises in value and they are thus in trouble.But it is all Trump’s fault that Turkey is where it is right now. Yeah. Right.

  19. If anything, South Africa’s problem is that they did start leaning hard on their “rich”, who had the secondary, exacerbating sin of being white. So the rich people either had their businesses shrink, or fail, or they just fled the country all together. Turns out that if the rich people all leave or become poor, now you have a poor country. Who’d a thought?

  21. If anything South Africa’s problem is that they did start leaning hard on their rich””” who had the secondary exacerbating sin of being white.So the rich people either had their businesses shrink or fail or they just fled the country all together.Turns out that if the rich people all leave or become poor”” now you have a poor country. Who’d a thought?”””

  23. Venezuela is not on the list, neither is North Korea. This list is about countries with an actual economy. Turkey is fine unless Erdogan sacrifice everything for an last stand, even if they just loose an decade. South Africa has an good chance of going Zimbabwe who would be very bad and fuck up the area even more.

  24. Venezuela is not on the list neither is North Korea. This list is about countries with an actual economy. Turkey is fine unless Erdogan sacrifice everything for an last stand even if they just loose an decade. South Africa has an good chance of going Zimbabwe who would be very bad and fuck up the area even more.

  28. Venezuela is not on the list, neither is North Korea.
    This list is about countries with an actual economy.
    Turkey is fine unless Erdogan sacrifice everything for an last stand, even if they just loose an decade.
    South Africa has an good chance of going Zimbabwe who would be very bad and fuck up the area even more.

  29. If anything, South Africa’s problem is that they did start leaning hard on their “rich”, who had the secondary, exacerbating sin of being white.
    So the rich people either had their businesses shrink, or fail, or they just fled the country all together.
    Turns out that if the rich people all leave or become poor, now you have a poor country. Who’d a thought?

  31. High rise buildings going up may be due to an increasing population (real estate speculation?). Or perhaps it may be due to a macroscopic misallocation of capital (which we all should be familiar with…), especially since until now in Turkey the interest rates have been purposely kept lower than they should have been by the central bank and even the government admits that the economy has been “overheating”. Or perhaps a combination of both..?

  33. Man, you are soo clueless.

    They took out their debt in ANOTHER currency (dollars). They have to thus pay that off in dollars.

    Build more infrastructure? They can’t even adequately manage the infrastructure that they already have. And you appear to never have heard of The Law of Diminishing Returns.

    Then again, you believe the rich ‘hoard’ their money is Scrooge McDuck money bins, too.

  34. Yup. The top 13 countries having external debt financing problems right now all have one thing in common: That
    debt…or most of it…is DOLLAR denominated.

    In other words, stupid foreigners take out debt in another currency other than theirs, then that currency rises in value and they are thus in trouble.

    But it is all Trump’s fault that Turkey is where it is right now. Yeah. Right.

  35. Poor old “Columbia” does not appear on any of the indices of economic problems.
    Apparently their misery derives from the fact that ignorant Americans still can’t spell “Colombia”.

  36. Money is still cheap. My suggestion to all these countries is to tax the rich more, borrow more, and to build infrastructure than will improve the productivity of the economy like bridges, rails, roads.

Comments are closed.