Turkey’s new Treasury and Finance Minister Mehmet Simsek and top banking executives plan to meet next week for the first time, said people with knowledge of the matter.
(Bloomberg) — Turkey’s new Treasury and Finance Minister Mehmet Simsek and top banking executives plan to meet next week for the first time, said people with knowledge of the matter.
The meeting, tentatively planned for Thursday, comes amid speculation the new economic team will unravel a strew of measures designed to keep the lira stable prior to presidential elections last month. The regulations are likely to be top of the agenda at the reunion.
Simsek rejoined President Recep Tayyip Erdogan’s cabinet after the Turkish president secured another five-year term in the May 28 runoff vote. The return of the former Merrill Lynch strategist was warmly welcomed by investors who are anticipating Turkey’s tilt to more conventional policies. The minister is known for his market friendly stance.
The meeting will be with banks that are members of the Banks Association of Turkey, or TBB, the people said, asking not to be named because details haven’t been finalized. The Treasury and the TBB declined to comment.
Eyes are now on possible changes to the central bank administration. The bank’s current governor, Sahap Kavcioglu, has heeden Erdogan’s calls for low borrowing costs despite rampant inflation.
Read more: Turkey Sounds Out First Republic’s Ex-Exec Over Central Bank Job
–With assistance from Beril Akman.
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