Currency Crises

The last few years have seen several currency crises across the Middle East, from Iran to Turkey and Egypt. Currency crises are usually the result of years of mismanagement and corruption which lead to a loss of confidence in a country’s currency. In plainer terms, a currency crisis indicates that there is serious doubt as to whether a country’s central bank has sufficient foreign exchange reserves to maintain the country’s fixed exchange rate. In this course, you will prepare to read and watch Arabic media reporting on currency or financial crises across the Middle East. The lessons for this course cover the Iran currency crisis in depth, the collapse of the Turkish Lira, and a World Bank loan to Egypt.