Minister Albayrak to attend G20 finance ministers meeting in Buenos Aires

DAILY SABAH
ISTANBUL
Published 20.07.2018 19:46

Treasury and Finance Minister Berat Albayrak, accompanied by Central Bank of the Republic of Turkey (CRBT) Governor Murat Çetinkaya, is making his first overseas trip since taking office for the G20 meetings. Albayrak is travelling to Buenos Aires, Argentina,to attend the G20 Finance Ministers and Central Banks meeting to be held over the weekend.

The meeting will be attended by ministers and central bank governors of G-20 member countries and representatives of the International Monetary Fund (IMF) and the World Bank. The IMF's G20 assessment report included clues about the summit agenda.

The report indicates that the dollar has gained strength since the U.S. Federal Reserve's interest rate hikes have caused capital outflows from emerging markets, adding, "Emerging market economies are faced with tightening financial conditions and, in some cases, unique challenges." It is expected that sanctions on Iran will also be addressed during the summit.

Meanwhile, the team that Albayrak works with at the Ministry of Treasury and Finance is becoming clear. Prior to the visit to Buenos Aires, Albayrak transferred Turkcell CFO Bülent Aksu to the ministry. Turkcell CFO Aksu will work in the Ministry of Treasury and Finance in the new period.

Yesterday, Turkcell announced via the Public Disclosure Platform (KAP) that Aksu decided to resign from Turkcell on July 31 due to the new mission he will undertake at the ministry.

In a statement about the transfer, Turkcell CEO Kaan Terzioğlu said: "Bülent Aksu has made significant contributions to establishing Turkcell on the basis of international practices that have enabled Turkcell to be a model company in the management of balance sheets and exchange rate risks, as well as on the basis of strong financial bases that have enabled our company to grow continuously with innovative solutions for financing investments. His work and outstanding efforts to maintain our company's strong and healthy financial infrastructure are worthy of respect."

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