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Turkish economy
Bond giant Pimco says Turkey on track for investment grade rating
...One person who attended last week’s event said Erkan and finance minister Mehmet Şimşek, who appeared virtually, “delivered a very credible and encouraging update on the impact of their reforms and goals...
January 18, 2024
InterviewTurkish economy
Turkey’s finance minister says ‘challenging’ conditions will take time to turn around
...In his first interview with international media since his appointment in June, Mehmet Şimşek said he was seeking to “rebalance the economy and soften domestic demand”, after years of unconventional economic...
September 27, 2023
FT Live
Global Banking Summit
The world's top gathering of leaders in finance
Tuesday, 3 DecemberLondon, UK
Turkish economy
Runaway inflation fuels blistering rally in Turkey’s stock market
...Meanwhile, finance minister Mehmet Şimşek, a former deputy prime minister who is well-regarded by foreign investors, has boosted petrol and value-added taxes on goods and services....
August 2, 2023
The FT ViewThe editorial board
Turkey should shore up investor faith in new orthodoxy
...That the market response turned out to be so muted shows that the real power in the country’s economic leadership now rests with the finance minister, Mehmet Şimşek....
February 11, 2024
ExplainerTurkish economy
Turkey’s central bank expected to stay course after leadership shake-up
...The president in June appointed Mehmet Şimşek — a former Merrill Lynch bond strategist who had served years earlier as deputy prime minister — as finance minister to lead the economic turnaround....
February 5, 2024
Turkish economy
Turkey central bank governor quits and points to campaign against her
...Finance minister Mehmet Şimşek, a former Merrill Lynch bond strategist who has led the economic turnaround efforts since they began in June, said on Friday evening that the programme “continues without interruption...
February 2, 2024
FT Live
The Global Boardroom: 8th Edition
FT journalists in conversation with leaders in business and government
Wednesday, 4 DecemberDigital Conference
News updates from February 2: US adds 353,000 jobs in January, US hits Iraq and Syria after drone deaths
Turkey’s central bank governor resigns after 7 months
...Finance minister Mehmet Şimşek, who has led the economic turnaround efforts, said on Friday evening the programme “continues without interruption and with determination.”...
February 2, 2024
News updates from February 2: US adds 353,000 jobs in January, US hits Iraq and Syria after drone deaths
Turkey appoints new head of central bank after previous governor quits
...Turkey has appointed central bank deputy governor Fatih Karahan to the top job just hours after previous chief Hafize Gaye Erkan abruptly quit....
February 2, 2024
LexTurkish economy
Turkey still must shake off its inflation addiction Premium content
...Şimşek probably had a hand in choosing both Erkan and Karahan....
February 5, 2024
Turkey
Turkey shakes up central bank as part of shift to mainstream approach
...New finance minster Mehmet Şimşek, a former Merrill Lynch bond strategist, has also allowed the lira to depreciate sharply against the dollar by easing up on a costly defence of the currency....
July 28, 2023
Person in the News
Hafize Gaye Erkan, a new central bank governor takes on troubled Turkey
...Mehmet Şimşek, who was appointed last week as finance minister, has vowed to restore “rational” policies in the country....
June 10, 2023
Markets
The offbeat markets that offered bumper returns in 2023
...He appointed Mehmet Şimşek, a highly regarded former Merrill Lynch bond strategist, as finance minister and ex-Goldman Sachs banker Hafize Gaye Erkan as central bank chief....
December 28, 2023
Turkish economy
Turkey raises interest rates for fifth time in as many months
...Higher rates are part of a broader economic overhaul that is being led by finance minister Mehmet Şimşek, who was appointed in June....
October 26, 2023
Turkish economy
Turkish central bank predicts inflation will soar close to 60% by year-end
...But he cautioned: “The market just does not think that [finance minister Mehmet] Şimşek and Erkan have a mandate to do whatever it takes to fight inflation, at least not when it comes to policy rates, and...
July 27, 2023
Europe Express
Turkey calls an end to Erdoğan’s economic experiments Premium content
...Erdoğan’s appointment earlier this month of Mehmet Şimşek, a former deputy prime minister who is highly regarded by foreign investors, as finance minister and Hafize Gaye Erkan, a former Goldman Sachs executive...
June 23, 2023
FT Live
Commodities Asia Summit
Enabling decarbonisation in a time of disrupted trade flows
Wednesday, 6 NovemberSingapore
Turkish economy
Turkish spending boom fuels strong expansion of economy
...“Our economy continued its strong growth performance in the second quarter when we tried to compensate for the economic effects of the earthquake,” said Mehmet Şimşek, who became finance minister after the...
August 31, 2023
Turkish economy
Turkey raises interest rates as it steps up decisive shift in economic policy
...Underscoring that sentiment, Mehmet Şimşek, a former City of London bond strategist who was appointed Turkey’s finance minister in June, said on the social media service X, formerly Twitter, after the rate...
August 24, 2023
Central banks
Erdoğan abandons cheap money to counter Turkey’s soaring inflation
...Finance minister Mehmet Şimşek and central bank chief Hafize Gaye Erkan have sought to cool Turkey’s $900bn economy since their appointment in June following Erdoğan’s re-election....
September 6, 2023
Turkish economy
Turkey raises $2.5bn in first deal on dollar bond market since April
...Turkey’s new economic management team, led by finance minister Mehmet Şimşek and central bank chief Hafize Gaye Erkan, has begun unwinding many of the unorthodox economic policies pursued by Erdoğan prior...
November 7, 2023
Turkish economy
Foreign investors pile into Turkey’s stock market since election
...Finance minister Mehmet Şimşek and central bank chief Hafize Gaye Erkan, who were appointed in June, have vowed to set Turkey on a “rational” path after years of unconventional policies triggered an economic...
July 6, 2023
Turkish economy
Turkey gains current account surplus after surge in tourism
...Financial markets welcomed Erdoğan’s appointment of Erkan and fellow former Wall Street banker Mehmet Şimşek to his old job as finance minister....
August 11, 2023
Turkish economy
Turkey’s inflation rate jumps to almost 50%
...Under the direction of new finance minister Mehmet Şimşek, Turkey has abandoned its costly defence of the lira and allowed the currency to plummet by a quarter against the euro since the end of May....
August 3, 2023
Live news updates from June 22: Titan submersible passengers die in implosion, BoE lifts interest rate to 5%
Turkey overhauls finance ministry ahead of pivotal central bank meeting
...The four new deputies, who all have previous experience in the Turkish bureaucracy, will report to Mehmet Şimşek, the new finance minister....
June 22, 2023
Turkish economy
Turkey’s central bank brings low-rate era to close with 6.5 percentage point rise
...Their optimism has been fuelled by the president’s appointment of Mehmet Şimşek, an investor-friendly former deputy prime minister, as finance minister and Erkan, a former Goldman Sachs executive, as central...
June 22, 2023
Turkish economy
Turkey raises interest rates for fourth time since June
...The cost to protect against a Turkish debt default has eased markedly since the new economic team, led by finance minister Mehmet Şimşek and central bank chief Hafize Gaye Erkan, were appointed in June....
September 21, 2023

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