Turkey is not just some “third world economy”. It’s manufacturing exports have been doing great with cheap domestic currency and the tourism sector has remained strong, especially with the influx of involuntary tourists from Russia.
Turkey is also a NATO member and occupies strategic territory. It will not die on the vine and wither away in silence.
Turkey is India in ten years, Argentina 15 years ago, with the advantage of being able to extract some fossil fuels.
They wasted demographic dividends, and they don't have enough natural resources to make up for it (but they have some). They didn't fucked up as much as Liban did, so they have that going for them.
The only non western country to succeed their demographic transitions without abundant natural resources is Cuba, but imho that was thanks to the USSR.
Even if they increased the interest rates, they would still have substantial inflation.
Truth to be told I don’t think such third world economies can ever recover. It is too late for the patient.