Turkey: Why is the finance minister resigning?
The Turkish Minister of Finance Berat Albayrak, who has been talked of as the successor to his father-in-law Erdoğan for years, announced his resignation on Sunday by Instagram. An official statement of the government is still pending, but unofficially the resignation was confirmed. The decline of the Turkish economy is probably not the only reason for Albayrak's withdrawal, media speculate.
Cooperation with Central Bank disrupted
Albayrak had become unable to assert himself recently, Yetkin Report comments:
“Early on Nov. 8, as the world was focused on Biden's election and Trump's departure, Turkey was also discussing Erdoğan's decision to replace Central Bank Governor Murat Uysal with Naci Ağbal, the strategy and budget president of the Presidency. Uysal had said on Oct. 28 that the Turkish Lira was 'too valueless' and that the markets did not trust the Central Bank, and he was removed from the post on Nov. 6. It is no secret that Albayrak cannot get along with Uysal's successor Ağbal.”
It's the man at the top who's to blame
It's naive to blame Albayrak alone for the current economic crisis in Turkey, argues journalist Murat Sabuncu on T24:
“I can't find the words to describe those who say Albayrak is very unsuccessful, as if they didn't know that with the economy, as with every issue, it's Erdoğan who has the last word. It means not acknowledging that all the big problems like the destruction of the judicial system, our ruined democracy, and the fact that there is no country with which we are not at odds now are the main reasons for the collapse of the economy. Not acknowledging that one-man rule is the real cause of this huge economic disaster.”