A Fourth Estate® Service

Tuesday, January 19, 2021

Turkish Finance Minister Berat Albayrak Resigns Amid Currency Crisis

Turkish Finance Minister Berat Albayrak announced his resignation last Nov. 8, citing health reasons, amid the currency crisis in Turkey.

Turkish Finance Minister Berat Albayrak announced his resignation on Nov. 8, citing health reasons, amid the currency crisis in Turkey.

“After serving in ministerial posts for nearly five years, I took the decision not to continue my duty due to health issues,” Albayrak, who is also the son-in-law of President Recep Tayyip Erdogan, said in a post in his verified Instagram account, adding that he would spend more time with his family whom he claimed he “neglected” due to his political life.

Albayrak’s resignation comes as the Turkish lira has dropped to record lows multiple times this year, losing 30% of its value against the U.S. dollar since the beginning of the year.

Albayralk’s resignation also comes day after Erdogan fired Murat Uysal from his post as Central Bank governor, following lira dropping to a record low of 8.48 against the United States dollar last Nov. 6.

Former Finance Minister Naci Agbal replaced Uysal, who served for only 16 months, by a presidential decree last Nov. 7.

Whether Erdogan will accept the resignation or not is yet to be known.

Earlier this year, Erdogan rejected the resignation of Turkish Interior Minister Suleymen Soylu who remains in his post to this day.

Deputy Transport Minister Omer Fatih Sayan and Department Parliamentary Group Chairman Mehmet Mus stated in separate posts on Twitter that they hope the resignation will not be accepted.

Albayrak has served as finance minister since 2018 and previously served as energy minister from 2015 to 2018. He is married to Erdogan’s eldest daughter Esra and has four children.

Article © 2020 Fourth Estate® — All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.

Recent Articles

FBI Investigates Capitol Insurgent Who Allegedly Stole Pelosi’s Laptop and Planed to Sell it to Russian Intelligence Agents

The Federal Bureau of Investigation (FBI) is investigating a woman who allegedly stole a laptop from House Speaker Nancy Pelosi's office during the riots...

Biden to Reject Trump’s Plan to Lift Some COVID-19 Travel Restrictions

United States President-elect Joe Biden's spokeswoman said that the incoming administration has no plan to lift international travel restrictions amid the COVID-19 pandemic despite...

Venezuela Sends Shipment of Oxygen to Brazilian State

Venezuelan President Nicolas Marduro sent a shipment of emergency oxygen supplies to Brazilian northern state Amazonas, hit hard by the second wave of the...

WHO Warns of ‘Catastrophic Moral Failure’ Over COVID-19 Vaccine Inequity

World Health Organization (WHO) Director-General Tedros Adhanom Ghebreyesus warned that the inequitable distribution of COVID-19 vaccines between wealthy countries and poor countries places the...

Energy Watchdog Urges Fossil Fuel Firms to Curb Methane Leakage

The International Energy Agency (IEA) on Monday said that companies in the oil and gas sector must augment their initiative in addressing the detrimental...

Get the Daily NewsBrief in your inbox

Related Stories