Turkey’s new Finance Minister Lutfi Elvan pledged on Tuesday to pursue “market-friendly” policies and rein in inflation after taking over from President Recept Tayyip Edrogan’s son-in-law. Elvan’s comments came less than a day after Erdogan stunned the markets and some top officials by accepting the resignation of Berat Albayrak — the husband of the president’s elder daughter Esra — and replacing the beleaguered head of the central bank. The unexpected shakeup helped the Turkish lira on Monday gain more than five percent against the dollar after losing nearly a third of its value since the start of the year.
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