It is time to embrace 'Nas' again!

Central Bank of the Republic of Turkey Governor Hafize Gaye Erkan has resigned...

Her resignation has absolutely nothing to do with economic failure!

Because she claims she was successful.

Erkan announced her resignation to the Turkish nation through a post on her social media account, stating the following in her message:

"At this point, our economic program has begun to bear fruit. The increase in our reserves, economic data, and indicators regarding the main trend of inflation are proof of this success. Despite all these positive developments, as is known to the public, a major character assassination campaign has been organized against me recently."

As can be understood from these statements, the Central Bank Governor believes she was successful before resigning. However, while Erkan was tweeting, the free market was trading at Dollar: 30.4907, Euro: 32.9497, Pound: 38.5475 Turkish Lira.

On June 8, when Erkan took office, the rates were trading at Dollar: 23.3470, Euro: 24.9890, Pound: 29.1661 Turkish Lira.

Of course, this has nothing to do with our topic!

What I don't understand is, if these efforts had begun to bear fruit, is the economy of a country that has started to get back on track such a simple matter that it can be abandoned just because of the gossip of a few ignorant people?

In her statement, Erkan concluded by saying, "In order to prevent my family and, more importantly, my innocent child, who is not even a year and a half old, from being further affected by this process, I have requested from our President to be relieved of my duties, which I have carried out with honor since the first day." She added, "I express my gratitude and appreciation to our President, who offered me the opportunity to serve my country and my nation, which is the greatest legacy I will leave to my child, and who never withheld his support during my tenure."

Now I ask again, Mr. Erkan, is your child, who is not even a year and a half old, in a position to understand the smear campaign fabricated against you?

Let's say when they grow up, they find and read these on the internet; wasn't the greatest legacy you would leave them to serve the country? Wouldn't they have appreciated the truth then by saying, “My mother did a great job”?

Now, while the economy is going so well, by saying "I'm not playing anymore," have you deprived both your own child and millions of children of your country of this legacy?

Let no one fool anyone; Hafize Gaye Erkan sailed through stormy banking seas in America for 22 years. Giving the impression that she gave up because of a few claims on social media is mocking the intelligence of the nation.

Did she work happily at Goldman Sachs and First Republic Bank?

It was even alleged that a class-action lawsuit was filed against the collapsed First Republic Bank, where she was an executive in the US, by customers accusing the bank of violating banking laws and making false and misleading statements.

Wasn't Hafize Hanım worn out during that period?

In other words, Hafize Hanım is not a professional who would give up because of these claims, as she has weathered more serious storms.

So what happened?

Our newspaper's esteemed writer, Economics Professor Duran Bülbül, summarized the situation very well: "This resignation means that the high-interest rate policy will be abandoned."

Our esteemed professor is absolutely right. Since they could not explain to the markets, either domestically or internationally, that they dismissed the Central Bank Governor as the person responsible for the bad course of events in such a short time, Hafize Gaye Hanım was made to resign.

It seems that since the high-interest rate policy increases production costs, they will return to the low-interest rate policy from scratch.

Because the signals to embrace 'Nas' (religious-based economic principles) again have been given...

Let's see who else the economic policies to be planned from scratch will force to resign?