2023-06-09 13:03:14
Banking sources revealed that the newly appointed Turkish Finance Minister, Mehmet Simsek, is scheduled to hold a meeting next week with senior bank managers.
The bankers said in a Archyde.com report that the meeting is expected to take place on Thursday of next week between Şimşek and banks that are members of the Turkish Banks Association.
“This is a meeting that should of course take place,” said a senior banker. He added that similar meetings were held following the appointment of treasury ministers and related ministers before.
This news comes in conjunction with the appointment of Hafiza Ghaya Arkan as the head of the Central Bank of Turkey, and thus she is the fifth governor of the central bank in regarding 4 years.
The appointment of Arkan, who held important financial positions on Wall Street, is seen as paving the way for a shift in Turkey’s policy imposed by Erdogan in the recent period, as he was insisting on reducing interest rates despite the significant rise in inflation, which led to the flight of foreign investments and a sharp decline in the lira and reserves in cash. the alien.
Two sources said that Şimşek is expected to discuss during next week’s meeting a general assessment of the banking sector and the current economic challenges with the next minister.
Şimşek, a former strategist at Merrill Lynch, became a cabinet minister following Recep Tayyip Erdogan won the presidency in a May 28 runoff.
Investors were enthusiastic regarding Simsek’s appointment because they expected a shift towards more traditional economic policies in Turkey, indicating a shift in Erdogan’s policies.
Representatives of the banking sector have been voicing complaints regarding the unconventional economic pattern pursued by the Erdogan government over the past two years.
Şimşek, following being appointed to the post, said that economic policy should return to the land of “rationality” and that there were no “quick fixes” for policies.
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