OSCE observers did not recognize the elections in Turkey as completely fair

International observers from the OSCE did not recognize the presidential elections held in Turkey as completely fair and free. Their report on the second round of elections states that there was bias and pressure on voters, including from the state media.

The OSCE confirms that the organization of the elections itself complied with democratic rules, and voters could freely choose candidates. However, according to the report, expressions that discriminate against opponents were used in the election campaign. There is also talk about the bias of the state media and restrictions on freedom of speech. This, according to the OSCE, led to an unequal position of candidates and to the granting of privileges to Recep Erdogan – at the time of the elections, he was the current president of the country and was re-elected.

The results of the elections in Turkey had a negative impact on the rate of the Turkish lira, which had previously been declining. As of Monday morning, after the announcement of Erdogan’s victory, the lira fell to a record level of 20.05 lira per dollar. Bank Morgan Stanley warns that by the end of the year, the lira exchange rate may fall by 29 percent – to 28 lira per dollar, if Erdogan does not change the monetary policy, reports Bloomberg.

“Erdogan’s victory does not suit any foreign investor. With very high inflation, very low interest rates and the absence of net foreign exchange reserves, a painful crisis can occur that will affect all assets,” Tellimer strategist Hasnain Malik told Bloomberg.