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Sureyya Serdengecti, who played a pivotal role in rescuing Türkiye's economy during the 2001 financial crisis and reducing inflation to single digits, has passed away.
Appointed as the Governor of the Central Bank of the Republic of Türkiye in the immediate aftermath of the 2001 crash, Serdengecti was a key figure in implementing economic reforms that helped stabilize the country's financial system. Within three years, inflation was brought down from historically high levels to single digits—a major milestone in Türkiye's economic recovery.
The news of his death was announced by economist Prof. Selva Demiralp, who said on social media:
"Sureyya Serdengecti went down in history as the Central Bank Governor who helped reduce inflation to single digits after the 2001 crisis. I feel fortunate to have known him as a humble and fatherly figure. May he rest in peace."
Born in Istanbul in 1952, Serdengecti completed his primary and secondary education at Mahmutpasa Elementary School and Galatasaray High School. He graduated from the Middle East Technical University (METU) Economics Department in 1979. Between 1984 and 1986, he earned a master’s degree in economics at Vanderbilt University in the United States.
Starting his career at the Central Bank in 1980 in the External Debt Rescheduling Department, Serdengecti advanced through various key roles, including Director of Foreign Exchange Operations and Deputy General Manager.
In May 1996, he became General Manager of Markets, overseeing foreign exchange reserves management, currency interventions, and open market operations.
On March 14, 2001, Serdengecti was appointed governor of the Central Bank, serving until March 14, 2006. During his tenure, he played a significant role in managing the aftermath of the 2001 financial crisis and stabilizing the Turkish economy.
After leaving the Central Bank, Serdengecti taught economics at TOBB University of Economics and Technology. Fluent in English and French, he was recognized for his long public service career and academic contributions.
The cause of his death has not yet been announced.
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