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Turkey’s Erdogan Continues Revamp as Several Advisers Stand Down

Selcan Hacaoglu and Firat Kozok
·1 min read

(Bloomberg) -- More than 10 senior advisers to Recep Tayyip Erdogan stepped down this week, according to people familiar with the matter, as Turkey’s president continues to revamp his administration following his re-election in May.

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The aides were involved in policy making on issues ranging from foreign affairs to law and culture, the people said.

The changes are expected to be announced in a presidential decree this week, the people said. Some of the advisers have privately confirmed their resignations to Bloomberg. It’s still unclear if all or any of them will be replaced. The presidency declined to comment.

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Since the election win, which extended his rule into a third decade, Erdogan has shifted his economic and foreign policies.

He appointed Mehmet Simsek, a former Merrill Lynch bond strategist, as finance minister, and Hafize Gaye Erkan, who used to work at Goldman Sachs Group Inc. in the US, as central bank governor. They’ve overseen a sharp increase in interest rates and an unwinding of some controls on financial markets. It’s part of a plan to slow inflation running at almost 60% and win back foreign investors, who largely fled Turkey in recent years.

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Erdogan has also picked Hakan Fidan as his new foreign minister. Fidan, who used to head Turkey’s main intelligence agency, has pushed to improve Ankara’s ties with the US, Europe and Middle Eastern nations.

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