RT
Under the above heading, Igor Sobotin wrote in Nezavisimaya Gazeta about Erdogan’s change of central bank governor three times in less than two years.
The article stated: The order issued by President Recep Tayyip Erdogan to dismiss the governor of the Central Bank, Naji Iqbal, coincided with a slight increase in the value of the Turkish lira, and he is the third official of this regulator, to be replaced in a little less than two years.
The new head of the Turkish Central Bank is Shehab Gojioglu, a professor at Marmara University in Istanbul.
Accordingly, the senior director of the Turkish program at the American Defense Fund for Democracy, Aykan Erdemir, a former member of the Turkish Parliament, commented: “When Erdogan appointed Naji Iqbal as governor of the Turkish Central Bank last November, global investors praised him as a competent expert who would Return Turkey to conservative monetary policy. “
Indeed, according to the former parliamentarian, before Iqbal took office, Berat Albayrak’s administrative policies had resulted in Turkey experiencing one of the largest capital outflows in nearly a decade.
However, according to Erdemir, within five months of his work, Iqbal was able to completely change Albayrak’s reckless policy. As a result, Turkey was able to attract foreign capital of $ 4.5 billion. The appointment of Shehab Koçioglu, a former employee of the presidential AKP who has no experience in the central bank, is a clear indication that Turkey will return to the unconventional monetary policy it witnessed during the Albayrak era.
According to Erdemir, it is difficult to explain “Erdogan’s random behavior” with any rational economic policy. He told “Nezavisimaya Gazeta”: “This is a reflection of the conflict and wars over the spheres of influence between the various blocs within the nationalist Islamic extremist alliance in Turkey.” According to him, ill-considered political decisions will inevitably exacerbate the economic crisis in Turkey, and this, in turn, will undermine support for the Erdogan government.
The article expresses only the opinion of the newspaper or writer
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