x

Politics

Turkey: Former Deputy PM Appointed as Finance Minister

November 10, 2020

ANKARA — Turkish President Recep Tayyip Erdogan has appointed former deputy prime minister Lutfi Elvan as finance minister, to replace Erdogan's son-in-law who stepped down from the post, according to Turkey's Official Gazette on Tuesday.

Erdogan accepted Berat Albayrak's resignation late on Monday — a day after he announced on social media that he was quitting for health reasons and would spend more time with his family.

His resignation, however, followed the dismissal over the weekend of the central bank chief and his replacement by former Finance Minister Naci Agbal. Unconfirmed media reports said Albayrak staunchly opposed Agbal's appointment,

Albayrak, who has four children with Erdogan's daughter Esra, presided over a rough period in the Turkish economy. The country was recovering from a currency crisis in 2018 when the coronavirus pandemic hit and Albayrak's stewardship came under much criticism.

The Turkish lira has lost around 30% of its value since the start of the year, hitting a record low of 8.58 against the dollar on Friday, while annual inflation has hit 11.89%.

The lira firmed against the dollar on Monday, following news of Agbal's appointment and Albayrak's departure.

Elvan, 58, served as deputy prime minister between 2015 and 2016. Previously, he also held the posts of minister for development and minister of transportation, maritime affairs and communication.

RELATED

MADRID - NATO leaders at a Madrid meeting couldn't convince a stubborn Turkish President Recep Tayyip Erdogan to talk to Greek Prime Minister Kyriakos Mitsotakis, who's been getting the silent treatment from him.

Top Stories

General News

FALMOUTH, MA – The police in Falmouth have identified the victim in an accident involving a car plunging into the ocean on February 20, NBC10 Boston reported.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

General News

PHILADELPHIA – The Federation of Hellenic Societies of Philadelphia and Greater Delaware Valley announced that the Evzones, the Presidential Guard of Greece will be participating in the Philadelphia Greek Independence Day Parade on March 20.

Video

Woman Fatally Shot while Pushing Stroller on Upper East Side

NEW YORK — A 20-year-old woman was fatally shot Wednesday night while she pushed her infant daughter in a stroller on the Upper East Side, police said.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. abc@xyz.com

You may unsubscribe at any time using the link in our newsletter.