News Column

Turkey's top treasury official to leave for IMF

July 18, 2014

ISTANBUL, Ramadan 20, 1435, July 17, 2014, SPA -- Turkish Treasury Undersecretary Ibrahim Canakci, a key figure in reducing government debt over the past decade, will leave his post for a position with the International Monetary Fund in November, the treasury said on Thursday, according to Reuters.

The media-shy Canakci was appointed to the treasury's top post in May, 2003, and built a reputation among investors as a quiet anchor of stability, helping to bolster Turkey's international credibility.

Turkey's government debt has fallen to around 36 percent of GDP from some 74 percent when Canakci first took office.

The treasury said Canakci had been appointed an executive director at the IMF and would be Washington-based from Nov. 1.

The executive board is responsible for the day-to-day business of the IMF. It is composed of 24 directors, appointed or elected by member countries, and the managing director, who serves as its chairman, according to the IMF website.


12:35 LOCAL TIME 09:35 GMT

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Source: Saudi Press Agency (Saudi Arabia)

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