Skip to Content

Erdogan replaces finance minister as Turkey’s lira crashes

yonkershonda.com / CC BY-SA 2.0

ANKARA, Turkey (AP) — Turkish President Recep Tayyip Erdogan has appointed a new treasury and finance minister after the previous one stepped down as the country’s currency has tumbled to record lows. An announcement published in the Official Gazette on Thursday said Erdogan named deputy minister Nureddin Nebati to the post. The announcement said Lutfi Elvan asked to be “pardoned from the job” and that his request was accepted. His resignation comes as the Turkish lira has plummeted to successive all-time lows over concerns about the government’s economic policy following a series of cuts in borrowing costs despite soaring inflation. The Turkish currency has lost about 40% of its value since the start of the year.

Article Topic Follows: AP National Business

Jump to comments ↓

Associated Press

BE PART OF THE CONVERSATION

KRDO NewsChannel 13 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content