Turkey's newly reelected president, Recep Tayyip Erdogan, has performed a rare and dramatic policy reversal. With the country facing a financial crisis, Erdogan has abandoned his controversial economic policies and turned to a market-friendly policymaker to lead the finance ministry.
Erdogan's appointment of former US banker Mehmet Simsek as finance minister is widely seen as heralding an end to the Turkish leader's unorthodox economic policy of cutting interest rates to tame soaring inflation, which is running officially at around 40 percent.
