Hafize Gaye Erkan's term as governor of the Turkish central bank lasted less than eight months. After her resignation following corruption allegations, her previous deputy, Fathi Karahan, is moving up.
The 42-year-old Karahan has worked in the USA for years. He holds an economics degree from the University of Pennsylvania and worked as an economist at the Federal Reserve Bank (Fed) of New York. Erdoğan, who has described himself as an “enemy of interest rates” appointed Erkan himself.