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Thursday, June 13, 2024

She worked at Goldman Sachs. Now he will lead the Turkish central bank

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Turkish President Recep Tayyip Erdogan on Friday appointed Hafize Gaye Erkan, a former director of US banks First Republic Bank and Goldman Sachs, as the new president of the central bank. For the first time in Turkey’s history, a woman has headed a central bank, Daily Sabah reported.

“The appointment is the next step in the changes that Erdogan is making in the management of the country’s economy after winning the last elections,” recalled the Turkish daily. Earlier, the president appointed Mehmet Simsek as head of the finance ministry, which – according to “Daily Sabah” – heralds “the government’s farewell to a policy focused on maintaining low interest rates“.

Change of CEOs

Erkan, 41, is the fifth governor of the central bank Turkey in the last four years; She graduated from Bogazici University in Istanbul and earned her PhD from Princeton University USA. She joined Goldman Sachs in 2005 and became its managing director in 2011. In 2014-21, she held several key positions at the First Republic commercial bank.

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Hafize Gaye ErkanAnadol

Official Turkish data indicate that inflation in the country – for the first time in 16 months – fell below 40 percent in May. and reached 39.6 percent.

On Wednesday, the Turkish lira fell to a record low against the US dollar – which had to pay 22.98 lira that day.

Main photo source: Anadol

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