Erdoğan to hold economy board meeting ‘to discuss lira’

ANKARA

REUTERS photo

Turkish President Recep Tayyip Erdoğan will convene top economy officials to discuss the Turkish Lira’s weakness and other economic issues late on Nov. 23, after another meeting that was to be headed by Prime Minister Binali Yıldırım was canceled this week.

The meeting will be held in Erdoğan’s presidential office in Beştepe in Ankara, television media reported.

The government canceled an economy board meeting (EKK) with top economy officials that was to be headed by Yıldırım on Nov. 22, citing a change in his program.

The canceled meeting would have been the second such gathering under the leadership of Yıldırım in less than week to discuss the recent precipitous fall in the value of the lira, which has hit a series of record lows against the dollar.

The EKK convened last week after the lira’s latest sell-off. It has lost around 14 percent of its value against the dollar this year, hitting a record low of 3.4080 on Nov. 18.

After the last meeting on Nov. 18, sources in Yıldırım’s office said the Central Bank had agreed it would “take the necessary steps” to ensure price stability.