Hafize Gaye Erkan, the current governor of the Turkish Central Bank and the first woman in the history of Turkey to chair this institution, announced on Friday that she is resigning from her post just eight months after being appointed by Turkish President Tayyip Erdoğan, citing personal reasons and a campaign of harassment and defamation on social networks.
Precisely through the social network X (formerly Twitter), Erkan said she had proudly served since 8 June 2023 as president of the Central Bank of the Turkish Republic (TCMB), and stressed that the economic policies implemented since then – including a radical rise in interest rates to curb price hikes – have already begun to bear fruits, both in terms of reserves and economic data, including inflation indicators.
“Recently, a major campaign has been mounted against me to attack my reputation,” she said in a statement. Erkan therefore expressed her desire to step down “to prevent my family and my innocent son, who is not even a year and a half old, from being further affected by this situation”, she said, thanking the Turkish president for supporting her throughout her tenure.
As soon as the news of the Turkish Central Bank governor’s resignation broke, Turkey’s reputed economy minister Mehmet Şimşek said he “respects her personal decision”, thanking Erdan “for her service to our country”. Şimşek stressed however that the current economic policy – which aims to restore the confidence of markets in Turkey – will continue under the new TCMB governor.
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Pablo Gómez is a specialist in Turkey and has been editor-in-chief of Hispanatolia since 2011. He has been analysing current affairs and geopolitics in Turkey and the surrounding region since 2006.
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