ISTANBUL—Turkey’s President Recep Tayyip Erdogan’s named a loyalist as the country’s new finance minister Thursday, after the incumbent resigned over clashes with the longtime leader’s unconventional economic policies that have intensified a currency crisis shaking the country.
Nureddin Nebati, a former deputy finance minister, replaces Lütfi Elvan at the top of the finance ministry.
On the short run, lower TurkishLira could be disastrous for the Turkish industry's imports, and great for the Turkish exports. On the long run, however, it will be great for both. Erdogan
Modi Effect
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