https://sputnikglobe.com/20231223/erdogan-taps-crypto-professor-for-turkiyes-central-bank-monetary-policy-committee-1115765027.html
Erdogan Taps Crypto Professor for Turkiye's Central Bank Monetary Policy Committee
Erdogan Taps Crypto Professor for Turkiye's Central Bank Monetary Policy Committee
Sputnik International
Erdogan's drive to revamp Turkiye's economy received a significant boost with the addition of a crypto asset academic to its central bank's elite circle. The appointment signals a commitment to digital finance and aligning with the country's recent economic reforms.
2023-12-23T15:24+0000
2023-12-23T15:24+0000
2023-12-23T15:24+0000
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President of Turkiye Recep Tayyip Erdogan has appointed Professor Fatma Ozkul, known for her expertise in crypto assets and blockchain technology, to the central bank's rate-setting committee, according to a presidential decree published early Saturday.Ozkul, a lecturer at Istanbul's Marmara University, specializes in accounting, finance, and auditing. Her academic endeavors, highlighted on the university's website, extend to teaching courses in blockchain technology and crypto assets. Her recent contributions to the field include a 2022 publication on crypto asset accounting, which delves into the impact of blockchain and digital currencies on finance.After winning the May elections, President Erdogan reorganized his economic team, assigning the role of central bank governor to Hafize Gaye Erkan, previously with Goldman Sachs in June.Erkan's leadership has seen the central bank hike interest rates by 3,400 basis points, bringing them to 42.5 percent, and ramped its monetary tightening. This shift was further highlighted by Erdogan's decision to replace three members of the Monetary Policy Committee in July.The Central Bank's effort to combat inflation by raising interest rates to 15 percent in 2021 did not prevent the lira from falling to 25.2 against the dollar by June this year. It continued to lose 25 percent more of its value by August, causing inflation to climb to 59 percent and then a staggering 85.5 percent in October.Following his re-election, President Recep Tayyip Erdogan of Turkey articulated a set of economic policy promises to address the country's economic challenges. Central to his economic agenda are:
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recep tayyip erdogan, turkiye, professor fatma ozkul, crypto assets, blockchain technology, turkiye central bank, turkiye rate-setting committee, marmara university, crypto asset accounting, central bank governor, hafize gaye erkan, goldman sachs, turkiye monetary policy, monetary policy committee, digital finance, digital turkish lira, digital transactions, regulatory bill.
Erdogan Taps Crypto Professor for Turkiye's Central Bank Monetary Policy Committee
Erdogan's drive to revamp Turkiye's economy received a significant boost with the addition of a crypto asset academic to its central bank's elite circle. The appointment signals a commitment to digital finance and aligning with the country's recent economic reforms.
President of Turkiye Recep Tayyip Erdogan has appointed Professor Fatma Ozkul, known for her expertise in crypto assets and blockchain technology, to the central bank's rate-setting committee, according to a presidential decree published early Saturday.
Ozkul, a lecturer at Istanbul's Marmara University, specializes in accounting, finance, and auditing. Her academic endeavors, highlighted on the university's website, extend to teaching courses in blockchain technology and crypto assets. Her recent contributions to the field include a 2022 publication on crypto asset accounting, which delves into the impact of blockchain and digital currencies on finance.
After winning the May elections, President Erdogan reorganized his economic team, assigning the role of central bank governor to Hafize Gaye Erkan, previously with Goldman Sachs in June.
Erkan's leadership has seen the central bank hike interest rates by 3,400 basis points, bringing them to 42.5 percent, and ramped its monetary tightening. This shift was further highlighted by Erdogan's decision to replace three members of the Monetary Policy Committee in July.
The Central Bank's effort to combat inflation by raising interest rates to 15 percent in 2021 did not prevent the lira from falling to 25.2 against the dollar by June this year. It continued to lose 25 percent more of its value by August, causing inflation to climb to 59 percent and then a staggering 85.5 percent in October.
Following his re-election, President Recep Tayyip Erdogan of Turkey articulated a set of economic policy promises to address the country's economic challenges. Central to his economic agenda are:
The commitment to significantly reduce inflation, bringing it down to single digits.
Boost economic growth from a yearly growth rate of 5.5 percent from 2024 to 2028 and bolster Turkiye's GDP from $1 trillion in 2022 to $1.5 trillion by 2028.
Improve investment with a structure based on a free-market economy integrated with the world. This indicates a continued focus on investment, production, exports, and achieving a current account surplus.
