Explore:
ECONOMY IN 2001
The economic crisis which erupted in February and the developments after
the terrorist attacks in the United States in September negatively affected
the economy.
In the first quarter of 2001, floating foreign currency regime was adopted
after the February crisis. Kemal Dervis, one of the vice-presidents of
the World Bank, was appointed as the State Minister for Economy.
Sureyya Serdengecti was appointed as the Central Bank Governor, Engin
Akcakoca was appointed as the Banking Regulation and Supervision Agency
(BRSA) Chairman and Faik Oztrak was appointed as the Treasury Undersecretary.
Turkey got used to ``sunset meetings`` held at 06:30 a.m. after appointment
of Kemal Dervis while the first phase of the economic programme was announced.
Ihlas Finans was banned from carrying out activities while Ulusalbank
and Iktisat Bankasi were seized.
Demonstrations of tradesmen and artisans, discussions on privatization of Turkish Telekom, programme for transition into a powerful economy and amount of supplementary source that the IMF will give to Turkey became the most important economic events in the second quarter of 2001.
Many laws which lift state monopoly over arbitration, banking, telecommunications, sugar and natural gas were adopted.
Energy and Natural Resources Minister Cumhur Ersumer and State Minister Yuksel Yalova for Privatization resigned.
The world was shocked by the terrorist attacks in the United States in September.
Businessman Uzeyir Garih was stabbed to death. Public Works and Settlement
Minister Koray Aydin resigned.
Airline companies faced economic problems after the terrorist attacks
in the United States while Turkey obtained a 10 billion U.S. dollars of
supplementary source from the IMF to the new economic programme it will
start implementing in 2002.
20 million Turkish liras of banknote was put into circulation in Turkey while Toprakbank was transferred to SDIF and Iktisat Bankasi was closed.
Next > January
