 and the World Bank Group (WBG), the state-run TRT Haber reported.){kind=link}
Turkish Finance Minister Mehmet Şimşek and Central Bank Governor Fatih Karahan are traveling to the United States on Tuesday to attend the spring meetings of the Boards of Governors of the International Monetary Fund (IMF) and the World Bank Group (WBG), the state-run TRT Haber reported.
The meetings bring together central bankers, ministers of finance and development, parliamentarians, private sector executives, representatives from civil society organizations and academics to discuss issues of global concern, including the world economic outlook, poverty eradication, economic development and aid effectiveness.
Also featured are seminars, regional briefings, press conferences and many other events focused on the global economy, international development and the world’s financial system. The main ministerial meetings and events are scheduled for April 17-19, with other events and activities taking place April 15-20.
Şimşek and Karahan are expected to attend the meetings starting on Wednesday in Washington, D.C., where they will meet with investors and participate in some events as speakers.
Şimşek will also attend another meeting with investors in New York on April 22, where he will talk about Turkey’s new economy policies, its goals and reforms in its medium-term economic program.
Turkey in June began to undo years of unconventional, growth-at-all-costs economic policies pushed by President Recep Tayyip Erdoğan until his re-election in May. Şimşek and the central bank are leading efforts to rein in runaway inflation and put the nearly $1 trillion economy on a more sustainable path.
Turkey’s high inflation, currently running above 65 percent, and the continued loss in value of the lira, which has significantly decreased Turks’ purchasing power, have been shown by observers as being among the main reasons behind the loss of support for Erdoğan’s ruling Justice and Development Party (AKP) in the local elections held on March 31.
Accompanying the spiking inflation are historic highs in interest rates after the central bank’s decision to raise the key interest rate to 50 percent.
This move marked a significant departure from the country’s previous economic policy and sparked criticism of the AKP government’s handling of the economy.
Bir süredir yalan haberlerle kasıtlı bir şekilde gündem oluşturulmaya çalışılıyor.
Bizim derdimiz memlekete hizmet, gündemimiz yoğun. Bu zor coğrafyada ülkemizin sorunlarını çözmek, potansiyelini ve performansını artırmak için yapacak çok işimiz var.
Enflasyonu düşürmek,…
— Mehmet Simsek (@memetsimsek) April 16, 2024
Meanwhile, Şimşek on Tuesday denied what he called “fake reports” claiming that President Erdoğan is uneasy with the economy policies of Şimşek’s team. The minister said on X that Erdoğan has fully supported their economic program since the beginning and that his team is determined to bring down inflation, reduce the current account deficit, establish budget discipline and solve the economy’s structural problems.
Şimşek said when the economic program achieves its goals, the prosperity of the Turkish people will permanently improve.