UPDATE: Turkey’s Erdogan Appoints New Cabinet, Signaling Economic Shift
Turkey’s lira weakens as economists warn of
Erdoğan’s ‘unsustainable’ policies
https://www.ft.com/content/246951b4-1bcd-4144-a9c9-33f9f6c3e107
https://www.ft.com/content/246951b4-1bcd-4144-a9c9-33f9f6c3e107
Who Will Be Turkey’s Next Finance Minister? Doesn’t
Matter
https://www.washingtonpost.com/business/2023/06/01/turkey-s-next-finance-minister-can-t-fix-erdogan-s-economic-mess/b19ff32e-0033-11ee-9eb0-6c94dcb16fcf_story.html
Bobby Ghosh:
The scuttlebutt from Ankara is that former finance minister and deputy prime minister Mehmet Simsek is being lined up for the job as economic czar. But if he joins Erdogan’s new cabinet, expected to be announced tomorrow, it will mark a triumph of hope over experience.
Investors shouldn’t make the same mistake. Nor should they put much stock in the president’s vague promise to appoint a team with “international credibility” to manage the nation’s finances. Until Erdogan explicitly abjures his absurd economic ideas — the ones that have helped turn Turkey from the darling of emerging-market investors to a basket case on a par with Venezuela and Argentina — any appointments he makes should be regarded as mere window dressing.
Related:
https://www.washingtonpost.com/business/2023/06/01/turkey-s-next-finance-minister-can-t-fix-erdogan-s-economic-mess/b19ff32e-0033-11ee-9eb0-6c94dcb16fcf_story.html
Bobby Ghosh:
The scuttlebutt from Ankara is that former finance minister and deputy prime minister Mehmet Simsek is being lined up for the job as economic czar. But if he joins Erdogan’s new cabinet, expected to be announced tomorrow, it will mark a triumph of hope over experience.
Investors shouldn’t make the same mistake. Nor should they put much stock in the president’s vague promise to appoint a team with “international credibility” to manage the nation’s finances. Until Erdogan explicitly abjures his absurd economic ideas — the ones that have helped turn Turkey from the darling of emerging-market investors to a basket case on a par with Venezuela and Argentina — any appointments he makes should be regarded as mere window dressing.
Related: