Turkey’s President Recep Tayyip Erdogan has appointed Hafize Gaye Erkan, a former US-based bank executive, as the first female governor of the country’s central bank. The move signals a potential shift towards more conventional economic policies under Erdogan’s administration. Erkan, 41 years old, is a former co-chief executive officer of the First Republic Bank and holds a Princeton education.
Erdogan secured a third presidential term in recent elections, amidst a cost-of-living crisis exacerbated by soaring inflation rates. Critics attribute the economic turmoil to Erdogan’s policy of reducing interest rates to stimulate growth, which contradicts traditional economic principles advocating for rate increases to curb inflation.
Erkan previously held a managing director position at Goldman Sachs and served as co-CEO of the now-defunct First Republic Bank in San Francisco for…
