President Recep Tayyip Erdogan of Turkey appointed a new central bank governor early Saturday, hours after the abrupt resignation of his previous appointee, who said she was stepping down because of “a major reputation assassination campaign.”The departing central bank chief, Hafize Gaye Erkan, was the fifth in five years, and the first woman to hold the post.
The bank’s deputy governor, Fatih Karahan, was swiftly promoted to take her place.
The surprise change-up came about eight months into a shift in Turkey’s economic program aimed at taming a yearslong cost-of-living crisis that has been painful for many Turks.
Annual inflation as of last month was about 65 percent.
In an apparent effort to reassure investors, senior officials said that Ms. Erkan’s departure did not signal a change in policy.
Persons:
Recep Tayyip Erdogan, ”, Hafize Gaye Erkan, Fatih Karahan, Erkan’s
Locations:
Turkey