Turkish president Recep Tayyip Erdo?an is set to appoint Mehmet ?im?ek as finance and treasury minister, according to a person familiar with the negotiations, a move that would bring back to the government an economist who is widely respected by foreign investors.
?im?ek, a former senior Merrill Lynch economist, would be re-entering Turkey’s government at a time when the country’s $900bn economy is under intense strain and foreign investors have fled after years of unconventional policies pursued by Erdo?an’s government.
If he is appointed, it would be a signal that Erdo?an may be willing to reverse his unorthodox policies, which many blame for triggering an acute cost of living crisis as the lira has tumbled to record lows against the dollar.