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Free AccessFinMin Elvan Replaced by Deputy FinMin Nebati After Disagreement With Erdogan on Rates Policy
LOCAL NEWS
- FinMin Lutfi Elvan resigns overnight and is replaced by his deputy, Nureddin Nebati. This follows rumours of his eventual resignation that emerged a few weeks ago after his remarks about inflation and the current economic path allegedly angered Erdogan.
- Erdogan then said “I cannot walk alongside those defending interest rates,” referring to Elvan. Elvan held the position for just over 12 months, while Nebati has been deputy Finmin since 2018
- AKP spox announces Erdogan as the AKP’s 2023 candidate following a board meeting yesterday. “There is no doubt that out president is the presidential candidate in the upcoming elections” Meanwhile the opposition Nation Alliance has yet to choose a candidate – Ahval
Data
- 1130GMT: Gross FX Reserves, $87.9bn prior
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.