Amid inflation woes, Turkey announces CBDC tests planned for 2021

As the country deals with increasing consumer costs and an inflation rate in the double digits, in an announcement to members of Turkeys Parliament reserve bank guv Naci Agbal exposed that “conceptual” research study had actually been finished on a Turkish central bank digital currency (CBDC), which dry runs for such a currency would begin in the latter half of 2021. As Cointelegraph has formerly reported, a 2021 rollout of a digital Lira would actually be something of a delay– in November of 2019 Turkish president Recep Erdoğan exposed that tests for a digital Lira system would be total by the end of 2020. In a declaration to reporters last week, Agbal– who was chosen as the reserve banks head simply last month– that the bank is “identified” to lower inflation and fulfill a year-end target of 9.4%.
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