A major reputation assassination campaign has recently been organised against me,” Erkan said in a social media statement.
“In order to prevent my family and my innocent child, who is not even one-and-a-half-years-old, from being further affected by this process, I have requested from our president to be pardoned from my duty, which I have been carrying out with honour since the first day.”
“In order to prevent my family and my innocent child, who is not even one-and-a-half-years-old, from being further affected by this process, I have requested from our president to be pardoned from my duty, which I have been carrying out with honour since the first day.”
Minister of Treasury and Finance Mehmet Şimşek issued a statement concerning the resignation of Central Bank Governor Hafize Gaye Erkan.
In his statement, Şimşek said, "Our economic program, under the leadership of our President, Mr. Recep Tayyip Erdoğan, continues uninterrupted and with determination. President Erdoğan's support and trust in our economic team and the program we implement are complete. The decision taken by the former President of the Central Bank, Mrs. Hafize Gaye Erkan, is entirely personal and at her own discretion. I respect and appreciate her decision, and I thank her for the valuable service and contributions she has provided to our country. In line with my recommendation, I wish success to the new President of the Central Bank of the Republic of Turkey and the team to be appointed. Within this framework, as a team, we will continue to progress steadily towards our goal of price stability with strong cooperation and coordination. Respectfully announced to the public."
In his statement, Şimşek said, "Our economic program, under the leadership of our President, Mr. Recep Tayyip Erdoğan, continues uninterrupted and with determination. President Erdoğan's support and trust in our economic team and the program we implement are complete. The decision taken by the former President of the Central Bank, Mrs. Hafize Gaye Erkan, is entirely personal and at her own discretion. I respect and appreciate her decision, and I thank her for the valuable service and contributions she has provided to our country. In line with my recommendation, I wish success to the new President of the Central Bank of the Republic of Turkey and the team to be appointed. Within this framework, as a team, we will continue to progress steadily towards our goal of price stability with strong cooperation and coordination. Respectfully announced to the public."
Turkish President Recep Tayyip Erdogan appointed Erkan as the central bank governor on June 8, 2023, replacing Sahap Kavcioglu who served as Turkey's apex bank Governor since 20th March, 2021.[1]
The respected former Wall Street executive’s decision threatens to unsettle Turkey’s nascent recovery from an economic crisis that saw the annual inflation rate reach 85 percent in 2022.
Erkan won major plaudits from Western investors for spearheading a rapid series of interest rate hikes that helped stabilise the slumping lira and tame Turkey’s dire cost of living crisis.
Turkish President Recep Tayyip Erdogan — a lifelong opponent of high interest rates — dropped his support for unconventional economics and repeatedly praised Erkan for her work.
Erkan won major plaudits from Western investors for spearheading a rapid series of interest rate hikes that helped stabilise the slumping lira and tame Turkey’s dire cost of living crisis.
Turkish President Recep Tayyip Erdogan — a lifelong opponent of high interest rates — dropped his support for unconventional economics and repeatedly praised Erkan for her work.
Fatih Karahan to Replace Erkan as Turkish Central Bank Governor. Born in 1982, Karahan has become one of the youngest CBRT governors in the country.
He started his career as an economist at the Federal Reserve Bank of New York. In 2022, he became a senior economist at Amazon and was later appointed as the principal economist of the global e-commerce giant.
He was appointed as the deputy chief of CBRT in July 2023.
He started his career as an economist at the Federal Reserve Bank of New York. In 2022, he became a senior economist at Amazon and was later appointed as the principal economist of the global e-commerce giant.
He was appointed as the deputy chief of CBRT in July 2023.
Mavi Boncuk |
[1] Term of office of the Central Bank Governors who have been serving since 2001:
1-Süreyya Serdengeçti: 1826 days
2-Durmuş Yılmaz: 1821 days
3-Erdem Başçı: 1832 days
4-Murat Çetinkaya: 1172 days
5-Murat Uysal: 490 days
6-Naci Ağbal: 133 days
7-Şahap Kavcıoğlu: 810 days
8-Hafize Gaye Erkan: 239 days
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