News Formal

Turkish finance minister resigns in second surprise departure after lira slide

  • 📰 Reuters
  • ⏱ Reading Time:
  • 41 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 97%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Turkish Finance Minister Berat Albayrak said on Sunday he was resigning for health reasons, the second surprise departure of a top economic policymaker in two days after the central bank chief was ousted.

FILE PHOTO: Turkish Treasury and Finance Minister Berat Albayrak attends a news conference in Istanbul, Turkey, April 10, 2019. REUTERS/Umit Bektas

“I have decided that I cannot continue as a minister, which I have been carrying out for nearly five years, due to health problems,” the statement said. Albayrak became finance minister two years ago after serving as energy minister. During his tenure at finance, Turkey’s economy was hit by two bad slumps, double-digit inflation and high unemployment. The lira has lost around 45% against the U.S. dollar since his appointment and is the worst performer in emerging markets this year.Erdogan, who appointed former finance minister Naci Agbal as the new central bank governor on Saturday, would need to approve the resignation.

“Absent a rate hike, I am afraid the financial crisis will only get worse with the depreciation in the lira that increases the external debt, triggering bankruptcies.”

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Merit is important.

Could you please report that this information did not appear in the Turkish media! The ruling media did not give this news to the public! Only those who use social media know.

hakana Testing another strategy... may be...

We hope to see resignation of ErdoganHitler

Oh oh süper

he must go into quarantine

he doesnt reisign because of lira's slide. he doesnt care AT ALL.

According to the resignation letter, he resigned because of health issues. In a few weeks, Probably we will see him as head of an other ministry, that is less harmful for health 🙃

A country full of surprises

cnnturk Haberturk Ahaber HaberGlobal ntv siz neredesiniz

Yalan haber İNANMAYIN

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Singapore names new finance minister in cabinet reshuffle after setback in leadership successionLawrence Wong, current education minister and second finance minister, will helm the finance portfolio from May 15, the prime minister's office said on Friday.
Source: CNBC - 🏆 12. / 72 Read more »

Turkey: New economic reforms to spur investment delayed by pandemicTurkey’s Finance Minister Lutfi Elvan says economic reform package will increase investments and predictability despite global investment falling by over 40 percent during the pandemic For stability and A🔵🔴/Guideline healthy future with the Vision of the future. In constant meeting with ecb. It can be much better only controlled A🔵🔴/Guideline healthy. Mvg🇪🇺🇳🇱🇹🇷🇺🇳🌍✅
Source: trtworld - 🏆 101. / 63 Read more »

Turkey outlines structural reforms to improve investment climateTurkish economy expected to expand by 0.3 percent in 2020 in line with reforms and new programmes aimed at improving investments and ensuring price stability, says Finance Minister Lutfi Elvan.
Source: trtworld - 🏆 101. / 63 Read more »