Istanbul’s Bellydancers and DJs Fight for Survival as Turkey’s Night-time Economy Takes a Hit

A bellydancer performs for guests at the Sebebi Çok Teras, a night spot in central Istanbul.
THE GUARDIAN: With inflation at more than 100%, and a ruling party hostile to Istanbul’s vibrant nightlife culture, performers and bar owners are facing severe struggles

It’s 11pm at a rooftop restaurant overlooking Istanbul and the patrons are ready to party. In a corner, neon lights illuminate a DJ pumping Turkish pop music to long tables of patrons increasingly loose on raki, Turkey’s aniseed-flavoured national drink. Some have already got out of their chairs to dance, when suddenly the music shifts: the bellydancers have arrived.

A male bellydancer in a pink crop top dances, followed by a blond bellydancer in a rhinestone bra, and then Aslı Can, who enters the room in a storm of high kicks and hair flips.

It’s a typical meyhane night – the name for a traditional restaurant where people spend hours drinking listening to music and watching bellydancing, a staple of Turkish social life for centuries.

As the trio move between the different tables, jostling and wiggling with patrons, they begin their tricks – Can at one point does a full backbend over a table as she dances. Within half an hour, her top is stuffed full of 100 lira notes. » | Ruth Michaelson and Deniz Barış Narlı. Photography by Bradley Secker for the Guardian | Wednesday, July 5, 2023

What's behind Turkey's Ballooning Trade Deficit | DW Business

Aug 29, 2022 As Russia's invasion of Ukraine grinds on, its impact continues to be felt far beyond Ukraine's borders. In Turkey, the war has cast a shadow over President Recep Tayyip Erdogan's economic ambitions.

Turkey's trade deficit has ballooned over the last seven months on the back of rising commodity prices. In July, the monthly gap reached almost 11 billion dollars, which is a record level. The imbalance between imports and exports from January through July was 144 percent higher than a year earlier, according to Turkey’s state statistics agency. Add to that the rapid depreciation of the lira, and Turkey's problems don't look set to end soon.

Collapsing Turkish Lira May Bring Erdogan Down with It

THE TIMES: The Turkish president’s disastrous response to an inflation crisis has stirred up anger at his authoritatian rule

President Erdogan has insisted on cutting interest rates, against most economic advice, because he believes interest is condemned in the Quran | GETTY
When anti-government protests spread through Kazakhstan, President Erdogan was quick to offer Turkish support and try to rally other Turkic-speaking countries to the cause. The reason is clear: Erdogan faces a similar threat of a popular uprising at home and he is determined to hang on to power at all costs.

Like in Kazakhstan, there has been an explosion of anger in Turkey over the rising cost of living, corruption and the increasingly autocratic tendencies of its leader. Kazakh anger was triggered by a sharp rise in gas prices; in Turkey it was the precipitous fall over the past six months in the value of the lira, which has wiped out savings, bankrupted small businesses and caused soaring inflation. » | Michael Binyon | Thursday, January 13, 2022 [£]

Lira Loses 5% of Value in a Single Day amid Erdoğan's 'Economic War of Independence' | DW News

Jan 3, 2022 • Turkey’s annual inflation rate jumped to more than 36% in December. That's the highest level in almost two decades. The value of the Turkish lira has slumped to record lows, forcing retailers to hike prices sharply. The currency has suffered as a result of a series of central bank rate cuts, forced through by President Recep Tayyip Erdoğan'.

Turkish Lira Plunges, Loses Nearly 40% of Its Value This Year | DW News

Nov 24, 2021 • It's been an especially tough past few days for the Turkish lira. It remains near all-time lows against the dollar. The country recently cut interest rates at the insistence of President Recep Tayyip Erdogan despite the warnings of economists. The consequences are borne by normal Turks. Many are now angry.

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Turkey’s Lira in Free Fall – Erdogan Calls Snap Election

Erdogan invites foreign direct investment and the Turkish diaspora population in Europe to vote for him in the upcoming snap election. We speak with co-editor of Rapture Magazine

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THE DAILY TELEGRAPH: Lira tumbles as Turkey goes from star performer to 'sick man' of the emerging market block

The Turkish lira has tumbled to a record low amid a deepening political crisis in Ankara, the first emerging market domino to wobble as the US Federal Reserve starts to wind down global dollar stimulus.

The currency has weakened by 6pc against the euro over the last two days, culminating a 25pc fall this year. Foreign funds have cut holdings of Turkish debt by a quarter since the May.

Turkey has gone from star performer to 'sick man' of the emerging market block as the Fed begins to taper bond purchases, a move that threatens to set off a further rotation of funds back into US dollar assets. » | Ambrose Evans-Pritchard | Friday, December 27, 2013