The “reins” of the Central Bank of Turkey (TCMB) seem to be taken over by Hafiz Gaye Erkanthe “terrible girl from Turkey”, as she is called in the world of shopping and business.

As reported by Manolis Kostidis, Erkan is said to be the “chosen” of the new “pasha” of the economy, the super-minister of Finance and Economy Mehmet Simsek for the administration of the “electric chair” of TCMB.

Educated at Bosphorus and Princeton universities, the 41-year-old (born 1982) has been a senior executive for many years at Goldman Sachs, Tiffany & Co and many other financial giants.

He chose to pursue a PhD in financial engineering. It is noteworthy that she completed her PhD, which lasts 2 years and consisted of 12 courses, in one year, becoming the first student to complete her PhD in one year in the history of Princeton, which has a history of 250 years.

Erkan takes over as new Governor of the Central Bank of Turkey, succeeding him Sahab Cavtsioglou, which faithfully served Tayyip Erdogan’s policy of low interest rates, which sent inflation into the “stratosphere” – which is officially cooked at 44%, and causes the markets to question the endurance of the Turkish economy.

Since Erdogan’s re-election, the Turkish lira has slipped to 20.96 pounds to the dollar, and forecasts for its future are extremely bleak. Morgan Stanley has predicted its takeover at 28 pounds to the dollar.

The Turkish president has declared that Turkey’s low interest rate policy will continue after the elections. For most economists, this approach is unsustainable, and puts Turkish assets increasingly at risk of divestment. It remains to be seen if Sismek and Erkan will “serve” this policy, or their placement essentially signals a change of course for Turkey’s economic policy.