ISTANBUL, July 17 Turkish Treasury
Undersecretary Ibrahim Canakci, a key figure in reducing
government debt over the past decade, will leave his post for a
position with the International Monetary Fund in November, the
treasury said on Thursday.
The media-shy Canakci was appointed to the treasury's top
post in May, 2003, and built a reputation among investors as a
quiet anchor of stability, helping to bolster Turkey's
Turkey's government debt has fallen to around 36 percent of
GDP from some 74 percent when Canakci first took office.
He is an ally of Deputy Prime Minister Ali Babacan, whose
prudent economic oversight is seen as a bulwark against Prime
Minister Tayyip Erdogan's pressure for pro-growth policies such
as low interest rates despite stubborn inflation.
Babacan's own future is uncertain after parliamentary
elections next year because of a three-term limit imposed by the
ruling AK Party, raising further investor concern about the
future of Turkey's economic management team.
The treasury said Canakci had been appointed an executive
director at the IMF and would be Washington-based from Nov. 1.
The executive board is responsible for the day-to-day
business of the IMF. It is composed of 24 directors, appointed
or elected by member countries, and the managing director, who
serves as its chairman, according to the IMF website.
(Reporting by Asli Kandemir; Writing by Seda Sezer; Editing by
Nick Tattersall and Ralph Boulton)