Former Turkish Deputy Prime Minister Mehmet Simsek, whom President Recep Tayyip Erdogan has asked to spearhead the country's crippling economy after his reelection, plans to replace the head of the central bank, with three prominent bankers considered as candidates at the moment, Turkish media reported on Friday
ANKARA (Pakistan Point News / Sputnik - 02nd June, 2023) Former Turkish Deputy Prime Minister Mehmet Simsek, whom President Recep Tayyip Erdogan has asked to spearhead the country's crippling economy after his reelection, plans to replace the head of the central bank, with three prominent bankers considered as candidates at the moment, Turkish media reported on Friday.
The candidates to replace Sahap Kavcioglu at the Turkish central bank's helm include Halkbank chief Osman Arslan, VakifBank chief Abdi Serdar Ustunsalih and Ziraat Bank chief Alpaslan Cakar, the Haber channel reported.
Turkish media describe Simsek as one of the most professional economists in the country, periodically reporting that he might take a seat in the new cabinet or become vice president in charge of the economic sector. Simsek himself has not yet commented on the media reports, but he is known to have held talks with Erdogan.� In April, the Turkish leader said that interest rates would fall as long as he remains in power. After Erdogan's reelection the Turkish lira continued the years-long trend of dropping against the dollar and is currently trading at 20.75, according to the central bank's figures.
Erdogan secured victory in the second round of the presidential election on May 28.
