The Resignation of the Minister of Finance Became the Agenda of the World Press

The ongoing increase in the exchange rate in recent weeks led to the Central Bank of the Republic of Turkey directly intervening in the increase by selling to the market yesterday. While the dollar broke a new record by seeing 14, there was a slight regression with the intervention. In the evening on the same day, in the cabinet a surprise change done.

With the publication of the Official Gazette, it was announced that the request of the Minister of Treasury and Finance, Lütfi Elvan, for amnesty was accepted. To the Ministry of Treasury and Finance Instead of Lütfi Elvan Nureddin Nebati was appointed announced. This sudden change in the Ministry became the new agenda of the foreign press, which had been observing the problems in the Turkish economy for a long time. So, how did the change of the Minister of Treasury and Finance find an echo in the foreign press?

Headlines and news in the international press:

Bloomberg: As Interest Rate Cuts Deepen Cracks, Erdogan Replaces Finance Minister

Bloomberg reported that Lütfi Elvan, who resigned from his position, oppose interest rate cuts expressed.

Financial Times: Turkey’s Finance Minister Resigns Amid Lira Fall

In the Financial Times report, instead of Lütfi Elvan, who resigned, ‘Someone loyal to President Erdogan has arrived..’ expressions were included. It was also stated that Elvan was seen as the last remaining voice of economic orthodoxy.

Reuters: Erdogan Appoints Nabati as New Finance Minister as Lira Falls

In its report, Reuters stated that Elvan was the last senior official to adhere to orthodox policy, similar to the Financial Times. These moves undermining the credibility of policy making It is seen that Elvan, together with Naci Ağbal, turned towards the policies of the orthodox economy. from market-friendly technocrats was stated.