12punto columnist Duran Bülbül reacts to the cancellation of Kyrgyzstan's $62 million debt: 'I wish...'

Turkey has decided to cancel $62 million of Kyrgyzstan's debt with the signature of President and AKP Chairman Erdoğan.

Making a statement on his social media account regarding the issue, 12punto columnist Prof. Dr. Duran Bülbül pointed out that this decision could have been applied to segments struggling with economic difficulties, such as farmers and retirees.

IT COULD HAVE BEEN USED TO PAY OFF CREDIT CARDS

In his post, Bülbül stated, "62 million dollars is equivalent to approximately 2 billion 133 million Turkish Liras. This amount could have covered the diesel costs of farmers or could have been used to pay off the credit card debts of retirees.

Furthermore, the treasury borrowed 3 billion dollars in bond issuance by paying 7.5 percent interest in dollar terms. We are the country that borrows at the highest interest rate in the world. The Wealth Fund also issued 500 million dollars in Islamic bonds with 7.5 percent interest.

While the government is canceling another country's debt on one hand, it is borrowing from the world at high interest rates on the other. In the final analysis, our people, retirees, wage earners, and the poor are paying for these debts and their interest."

News Source: 12punto