Central Bank of Türkiye, for the first time in the hands of a woman

Erdogan this weekend appointed seasoned finance executive Hafize Gaye Erkan as head of the Central Bank of Türkiye. She is the first woman to take the reins of the country's monetary policy

For the first time in Türkiye’s monetary history, a woman will head the country’s Central Bank, following the appointment of Hafize Gaye Erkan to the post.

Erdogan, leader of Türkiye, announced this weekend the appointment of the experienced finance executive to take the reins of the entity that regulates Turkish monetary policy.

Hafize Gaye Erkan has extensive experience in the finance industry, having held prominent positions, primarily on Wall Street. She is “a former co-CEO of First Republic Bank and a former CEO of Goldman Sachs.”

Its entry into the Central Bank of Türkiye occurs at a time when the body is facing “a currency crisis after years of rate cuts that have led the lira to lows against the dollar and an escalation of inflation.”

Mehmet Simsek, Finance Minister, has indicated that Türkiye will have to apply deep changes in monetary policy. Together with the new president of the Central Bank, they will seek to straighten the tortuous path that finances have taken and that have caused the collapse of the Turkish lira.


Source: publico.es

(Reference image source: Meg Jerrard, Unsplash)

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