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reThe Turkish President’s son-in-law, Recep Tayyip Erdogan, has announced his resignation as Finance Minister. “After holding ministerial positions for almost five years, I made the decision not to continue in my position (as finance minister) due to health problems,” Berat Albayrak announced on her Instagram account on Sunday.
Albayrak’s statement said that he would spend time with his family after his resignation. Two spokespersons for Albayrak confirm that the social media account belongs to the minister, according to the Bloomberg news agency, but they could not confirm or deny the authenticity of the statement.
The Turkish lira has depreciated dramatically in recent months. On Friday night, 8.52 Turkish liras were trading at one dollar. Since the beginning of the year, the Turkish currency has lost almost 30 percent against the US dollar. Faced with the crisis, the president of the central bank, Murat Uysal, who had only held the post since July 2019, was dismissed on Saturday and replaced by former Finance Minister Naci Agbal.
The markets are concerned about persistently high inflation and the sharp decline in foreign exchange reserves. Furthermore, Turkey is going through an economic crisis.
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