Erdoğan defends his son-in-law against criticism over 'disappeared' Central Bank reserves

(File photo)

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President and Justice and Development Party (AKP) Chair Recep Tayyip Erdoğan has defended his son-in-law Berat Albayrak, who resigned as the finance minister in November, against criticism over his policies.

Albayrak has been widely criticized for causing the Central Bank to run out of foreign exchange reserves in a bid to keep the US dollar's exchange rate low.

Over the past few weeks, the main opposition Republican People's Party (CHP) has been especially vocal about the issue, accusing Albayrak of "evaporating" 130 billion dollars.

During a speech at his party's provincial congress in İzmir, Erdoğan said the CHP's campaign reached an extent that it became an attack against "basic rights and freedoms" and his family.

"There is no evaporated money. Foreign exchange transactions were made within the rules of the market and law," he said.

"Had Berat worked as just another politician, evaluations about him could be more objective."

"We implemented many practices that are important to keep the economy of Turkey strong in Berat's time as the minister."

Although the government denies that the Central Bank is short of foreign exchange reserves, Lütfi Alvan, Albayrak's successor, has promised to increase the bank's reserves. (AS/VK)