ISTANBUL — Turkish economist, politician and former head of the United Nations Improvement Program Kemal Dervis died Monday on the age of 74, Turkish information retailers reported.
He was being handled for an unspecified sickness in Washington D.C., state-run Anadolu Company reported, as did BBC Turkish and t24, which first reported the information.
In early 2001, amid the worst financial disaster in Turkey‘s fashionable historical past, Dervis left his job on the World Financial institution, the place he had labored for greater than 20 years, and joined the federal government on the invitation of then-Prime Minister Bulent Ecevit. Inflation was hovering and the stock market had crashed.
As minister of financial affairs, Dervis was largely accountable for the profitable three-year financial restoration plan launched that yr, which included main structural modifications and financial institution reforms.
He additionally negotiated loans from the Worldwide Financial Fund, a extremely unpopular transfer as deep spending cuts had been required. Nonetheless, they’d result in fast financial development resuming in 2002 and a major discount of inflation by 2003.
He resigned his ministerial place in August 2002, and was elected as an MP for the principle opposition Republican Folks’s Occasion, often called CHP, within the normal elections which came about later that yr.
In 2005 the United Nations Basic Meeting unanimously confirmed Kemal Dervis because the administrator of the United Nations Improvement Program. The publish is the third highest within the U.N. following the Secretary-Basic and Deputy Secretary-Basic. He didn’t search a second time period in 2009 when his four-year time period expired. “I discovered of Kemal Dervis’ passing with nice unhappiness,” tweeted educational and Sabancı College finance chair Ozgur Demirtas. “He’s a vital economist and minister. He was the architect behind the restoration from the 2001 disaster. If the reforms Kemal Dervis had wished not been carried out, Turkey would have been caught within the 2001 disaster. Condolences.”
“I’m very saddened by the lack of our esteemed minister Kemal Dervis, whose work I valued deeply and who represented our nation efficiently on the world stage,” tweeted former minister and present opposition politician Ali Babacan.
Born January 10, 1949, Dervis obtained his bachelors and masters levels from the London College of Economics in 1968 and 1970 respectively, and his PhD from Princeton College in 1973. He authored and co-authored a lot of books on economics, together with “Inequality in America: Info, Developments and Worldwide Views”, in 2012, and “Restoration from the Disaster and Modern Social Democracy”, in 2006.