Turkey Free-falling lira puts Turkey in balance of payments danger

A big fall in Turkey’s lira is hardly rare these days, but the currency’s precipitous 20% plunge over the last week is ramping up risks of a balance of payments crisis unless authorities can somehow pull the brake.

Some warn the Turkish lira’s slump risks a balance of payments crisis — when a country no longer has the money or the ability to borrow it to pay for essentials