Hafize Gaye Erkan, the first female governor of the Turkish Central Bank, has resigned from her position, less than a year after taking office, citing a smear campaign against her. In a statement, she expressed that the smear campaign had taken a toll on her family, including her young child, prompting her to request release from her duties.
Erkan, who was appointed by President Recep Tayyip Erdogan in hopes of stabilizing the country’s currency, faced criticism for allegedly involving her father in decision-making at the bank. Despite her resignation, it is unclear whether Erdogan has approved it, but Finance Minister Mehmet Simsek acknowledged her decision and thanked her for her contributions.
With a doctorate in financial engineering from Princeton, Erkan has held prominent positions in the financial sector, including at Goldman Sachs and as the CEO of the First Republic Bank. She succeeded Sehap Kavcioglu, who was criticized for his handling of interest rates and the devaluation of the lira.
Erkan’s resignation comes amidst economic challenges in Turkey, with the currency trading at a record low against the US dollar. Her departure raises concerns about the future direction of the central bank and its impact on the country’s financial stability.
