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FinancialNews


  • 12-11-20

    Turkey: economy administration restructured amidst lira drop

    (MENAFN)


    In order to decrease lira's losses against foreign currencies, the administration of the economy has been astonishingly reshaped by Turkish leader Recep Tayyip Erdogan, stimulating the beleaguered lira, which fell to register lows in latest weeks.

    The governer of the central bank Murat Uysal has been discharged and substituted with former Finance Minister Naci Agbal, by the Turkish president last Saturday.

    The surprise was when Treasury and Finance Minister Berat Albayrak, who is as well the son-in-law of Erdogan, surprisingly proclaimed on Sunday his demission on social media, mentioning undetermined "health reasons."

    Turkey's currency lost 30 percent of its price since the beginning of 2020, even though Albayrak, 42, had been in the position 2 years earlier.

    MENAFN12112020000045011361ID1101115916

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