Turkish President Recep Tayyip Erdogan has replaced the country’s finance-minister days after the lira touched record lows in the latest chapter of the currency’s year-long tumble in value.
Lutfi Elvan was viewed as the last top official to adhere to orthodox economic policy, backing higher interest rates even as the central bank slashed them under pressure from Erdogan. An official decree said Elvan had resigned and been replaced with one of his deputies, Nureddin Nebati.
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