Ankara - Turkey's Minister for Privatisation, Mr Yuksel Yalova, resigned yesterday after comments he made about an International Monetary Fund austerity programme sent panic through Turkey's stock market.
Mr Yalova had earlier in the day come out against what he described as the "rushed" drafting of a law liberalising Turkey's tobacco industry as part of IMF reforms. His comments triggered a sudden 5 per cent plunge in the Istanbul stock market. "I was misunderstood and my remarks were misinterpreted. I have resigned," Mr Yalova said.