Why has Turkish finance minister, Erdogan son-in-law quit govt?

Team Udayavani, Nov 21, 2020, 11:20 AM IST

Recently, Turkey president Recep Tayyip Erdogan’s son-in-law, Berat Albayrak, announced his resignation as the country’s Treasury and Finance Minister

According to Euronews, Berat Albayrak announced the decision in a post on Instagram on Nov 8, saying he was stepping down to spend more time with his family.

Albayrak was appointed minister of finance and treasury in July 2018, having previously been Turkey’s energy minister for nearly three years.

His resignation follows the dismissal of central bank chief Murat Uysal after a 30% slide in the Turkish lira.

According to Indian Express, Albayrak’s announcement came a day after Erdogan had fired the Governor of Turkey’s Central Bank, Murat Uysal, 16 months after he had taken office. Some believe this is the reason Albayrak resigned. It is said that Albayrak was not briefed about Uysal’s sacking.

The Turkish president appointed Lutfi Elvan, a former deputy prime minister and development minister who studied economics, as the new steward of the country’s $740bn economy.