Ali Babacan

Top officials from the world's major 20 economies (G-20) and global business leaders have agreed on the latter's 19-item list of demands to solve problems in the world economy, upon a meeting in Ankara attended by treasury ministers, central bank heads from the G-20 countries and business leaders from the international business community, daily Hürriyet reported on Sept. 6.

Ali Babacan, who was the Justice and Development Party?s (AKP) economy tsar for more than a dozen, uninterrupted years ? except for a brief stint as foreign minister ? left his post last week with the formation of the election government.

Global business leaders will discuss world economy risks and their expectations from G-20 countries in a series of meetings in the capital city of Ankara on Sept. 3-5. 

The Turkish government plans to ease consumer loan conditions to revive the declining domestic demand just ahead of the upcoming elections, according to a report in daily Hürriyet.

n this vein, banking watchdog BDDK has been asked to prepare a revision to extend payment terms in consumer loans from 36 months to 48 months, sources said. 

Deputy Prime Minister Ali Babacan, who entered the 58th government in 2002 as the youngest cabinet member and sat at the seat of state minister responsible of economy at the age of 38, has been replaced by Cevdet Y?lmaz, who was the minister for development.

With less than two weeks to go to the convention of the Justice and Development Party (AKP), the party leadership is now working on how it can best make use of its experienced politicians and whether they would run in early polls, including former Economy Minister Ali Babacan and Foreign Minister Mevlüt Çavu?o?lu. 

The staff of the Undersecretary of Treasury has submitted a farewell letter to Ali Babacan, the departing deputy prime minister in charge of the economy, thanking him for his work over his 14 years in politics. 

Global business leaders will discuss World economy risks and their expectations from the Group of 20 countries at the B-20 Turkey conference between Sept. 3 and 5 in Ankara. 

Finance ministers and the central banks of the member states will seek solutions to the recent economic problems at high-level meetings. 

Turkish Prime Minister Ahmet Davuto?lu said the rise in the U.S. dollar?s value is reflexive, and not a signal of any structural or permanent economic crisis in Turkey, during a meeting with a group of Ankara correspondents on Aug. 19. 

The case into 28 people from Turkey's top science body and top telecommunications authority illegally wiretapping the encrypted phones of high-ranking state officials, including then-Prime Minister Recep Tayyip Erdo?an, will begin on July 13.