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Fears of Finance Minister's Resignation Recede Slightly After Weekend

TURKEY
  • Locals were watching the Government's official gazette closely into this weekend for signs of Elvan's resignation/replacement after rumours circulated on Thurs/Fri that it was imminent.
  • The website became unreachable at midnight on Friday as people sought to learn whether Elvan had kept his job.
  • Elvan said last Tuesday that his ministry had demonstrated clearly that it was doing all it could to battle inflation. He called on other institutions to do the same in comments that appeared to be a veiled criticism of Erdoğan's interest rate policy.
  • Some investors hope that Elvan, a veteran bureaucrat, can help counter or soften the unconventional economic and financial policies of the government promoted by Erdoğan's key advisers at the presidential palace in Ankara - Ahval
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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