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Turkish finance minister resigns in second surprise departure after lira slide

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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.”

 

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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

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Yalan haber İNANMAYIN

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