Apart from the impulse to get out of the economic crisis, what other force, do you think, could have made President Tayyip Erdoğan visit Egyptian President Abdel Fattah al-Sisi, with whom he had frozen relations calling him a “coup plotter”, and send him messages of friendship and cooperation? And don’t say for the sake of
The Turkish Central Bank Governor Hafize Gaye Erkan is under spotlight over claims about her father interfering with bureaucratic affairs in the bank. The governor denies rumours, stating she will “use her legal rights.” The Central Bank of the Turkish Republic (CBRT) governor Hafize Gaye Erkan’s father, Erol Erkan, made the headlines in Türkiye on
The Ministry of Treasury and Finance published Türkiye’s top taxpayers list after 3 years on January 3, revealing that President Recep Tayyip Erdoğan’s son-in-law and Türkiye’s drone manufacturer Baykar’s chairman, Selçuk Bayraktar, has been the top taxpayer for three years in a row: 2020, 2021, and 2022. First of all, congratulations to Bayraktar. He became
This article is one of the most challenging ones that I have written for a newspaper or any other media outlet. I will explain the reason at the end, but first, let me begin with the Central Bank of the Republic of Türkiye (CBRT) Monetary Policy Committee’s (MPC) latest decision. The MPC, raised the one-week
Perhaps Mr. Mehmet Şimşek, Turkish Minister of Treasury and Finance, will also need one “Sadık Abi.” “Abi” means elder brother in Turkish and is also a courtesy word for someone older than you whom you respect and like. Mr. “Sadık Abi” appears to be the janitor of the building where Central Bank of the Republic
The Monetary Policy Committee of the Central Bank of the Republic of Türkiye (CBRT) raised policy interest rate by 500 basis points to 35 percent. The Monetary Policy Committee, which convened under the leadership of CBRT Governor Hafize Erkan on October 26, decided to raise the policy rate, the one-week repo auction interest rate, from
The chaos in the Middle East prevails as the İsrael-Palestinian conflict has merged into a war once again after Hamas attacked Israel on October 7. Unfortunately, the bombardments and clashes last in its second week with a rising humanitarian cost. This environment, if prolonged, will have negative effects on Türkiye, which had been on the
Let’s be clear. It was already clear from Foreign Minister Hakan Fidan’s contacts with Ukraine and Russia that President Tayyip Erdoğan would not be able to convince his Russian counterpart Vladimir Putin to return to the grain deal at the Sochi meeting on September 4. Diplomatic sources considered it a miracle if the issue was
The Monetary Policy Committee of the Central Bank of Turkey (CBRT) raised the policy rate from 17.5 percent to 25 percent on August 24. “The Committee decided to continue the monetary tightening process to establish the disinflation course as soon as possible, to anchor inflation expectations, and to control the deterioration in pricing behavior,” the
Türkiye may print 500 and 1000 Turkish Lira banknotes amid increasing inflation and currency crisis. This time last year, former Minister of Treasury and Finance, Nurettin Nebati was saying “there is no need for such measure,” when asked if there will be any banknotes with larger denomination. His ministry was obeying the instructions of President