Erdoğan tightens grip on central bank with sweeping decree

Recep Tayyip Erdogan
Recep Tayyip Erdoğan
US Department of Commerce

Recep Tayyip Erdoğan, president of Turkey, has tightened his grip on the central bank, enacting a decree that gives him new powers to control important aspects of the institution’s governance.

The presidential decree, published in Turkey’s official gazette on July 9, amends several key parts of the law governing the Central Bank of the Republic of Turkey, changing the text to transfer several powers from the prime minister or council of ministers to the presidency.

Among the changes, a

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