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May 15, 2023 • 3 min read

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Turkish Elections:

In the current Turkish Presidential election, President Tayyip Erdogan led the race against his opposition rival, Kemal Kilicdaroglu, but fell short of attaining an outright majority, necessitating a runoff vote set for May 28. Erdogan's lead could potentially bolster his parliamentary alliance, giving him an advantage going into the second round.
The implications of the election extend beyond Turkey's borders. Erdogan, a key ally of Russian President Vladimir Putin, could cause unease in the Biden administration and among several European and Middle Eastern leaders if he secures another term.
On the other hand, Kilicdaroglu, if victorious, has pledged to revitalize democracy, embrace orthodox economic strategies, and renew alliances with the West. The runoff election outcome could significantly impact not just Turkey but also its geopolitical relations. Runoff elections occur when no candidate receives a majority of the votes in the initial round.

Argentina Inflation:

Argentina's inflation rate reached a staggering 108.8% in April, according to the country's statistics agency. Argentina, a major grains exporter and the second-largest economy in South America, reported an 8.4% monthly inflation in April, surpassing the forecasted 7.5%.
This increase marks the highest rate the country has seen in decades, propelling the 12-month rate to an alarming 108.8%. The inflation surge has driven a quarter of Argentina's population into poverty.
The country has long grappled with high inflation rates, recurrent debt issues, and currency crises. The dwindling central bank reserves are now threatening the government's financial stability.

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