Jittery politics, jittery reserves

TURKEY - Report 23 Feb 2025 by Murat Ucer and Atilla Yesilada

On Friday, the stock market experienced a selling frenzy, largely driven by rumors of Treasury and Finance Minister Simsek’s ouster, or replacement by Mr. Berat Albayrak. The politics author spent the weekend investigating these rumors, concluding they are not credible at all.

On the other hand, Albayrak’s rehabilitation to a top party post is not implausible. The rumors about staff changes in AKP are triggered by the party’s 8th Grand Convention on Sunday, when President Erdogan will make a keynote speech, heralding a new mission for the party. Significant changes to the party hierarchy and Cabinet are underway, which we shall cover duly.

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