Turkey FM Resign

President Recep Tayyip Erdogan recently sacked the head of the country’s central bank.

 

Turkish President’s Son-In-Law Resigns As Finance Minister.

Whether his resignation was accepted remains unclear. Turkish Interior Minister Suleyman Soylu tried to step down earlier this year, but remains in the post after Erdogan rejected the resignation.

“After serving in ministerial posts for nearly five years, I took the decision not to continue my duty (as finance minister) due to health issues,” Berat Albayrak said.

The son-in-law of Turkish President Recep Tayyip Erdogan resigned on Sunday as finance minister, citing health reasons in a statement on his verified Instagram account.

“After serving in ministerial posts for nearly five years, I took the decision not to continue my duty (as finance minister) due to health issues,” Berat Albayrak said.

He said he would spend more time with his family whom he said he “neglected”, according to the statement.

Turkish finance minister resigns in second surprise departure after lira slide. The upheaval follows a 30% slide in the lira to record lows this year amid the coronavirus pandemic as investors worried about falling forex reserves and the central bank’s ability to tackle double-digit inflation.

Before joining politics, Albayrak worked for Calik Holding company, becoming CEO in 2007. He entered the Turkish parliament in 2015 as a lawmaker for Erdogan’s Justice and Development Party (AKP) and was then quickly named energy minister, before moving onto the post of the finance minister in 2018. Some analysts felt the 42-year-old was being groomed into becoming Erdogan’s eventual successor.

He is married to Erdogan’s eldest daughter Ersa and has four children.

Albayrak’s resignation comes a day after Erdogan dismissed the head of Turkey’s central bank, Murat Uysal, and replaced him with former Finance Minister Naci Agbal.

The further upheaval is unlikely to help the dismal state of Turkey’s economy. The lira, the nation’s currency, hit a record low of 8.48 against the US dollar (10.12 to the euro) on Friday, and annual inflation stands at 11.89%.

Albayrak has often blamed Turkey’s economic woes on foreign powers. 

Published by Naresh Sagar

Mentor MSME, Motivator, Media Event Org, Management fiscal & Water management.Social Media branding,Internet broadcasters,Propunder of Indian Philosophy

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