ANKARA: Turkish President Recep Tayyip Erdogan has appointed Hafize Gaye Erkan as the new governor of the country’s Central Bank, local media reported on Friday.
President Recep Tayyip Erdogan appoints seasoned banker Hafize Gaye Erkan as Türkiye’s first woman President of Central Bankhttps://t.co/zKuI1XJm4n pic.twitter.com/NyZY8Bw22r
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She is Turkey’s fifth central bank head in four years, replacing Sahap Kavcioglu. She was the first female under the age of 40 to hold the post of Chief Executive Officer at one of the US’s 100 largest banks. Erkan has a doctorate in finance from Princeton. After her new appointment, there were 23 women central bank governors worldwide.
Erdogan Appoints Hafize Gaye Erkan as New Governor of Central Bank
On Monday, she reportedly met Turkey’s newly appointed Finance Minister, Mehmet Simsek in Ankara to discuss her new role. The Minister told the media on Wednesday that the country would return to economic “rationality” to resolve the cost-of-living crisis. He also warned that there would be “no shortcuts and urged the public to be patient. Economists say that Erkan’s appointment may hint that Ankara will now follow orthodox economic policies, including interest rate hikes in the country to revive its economy.
