economist
An economist is a professional and practitioner in the social sciences, social science discipline of economics.
The individual may also study, develop, and apply theories and concepts from economics and write about economic policy. Within this ...
,
politician
A politician is a person who participates in Public policy, policy-making processes, usually holding an elective position in government. Politicians represent the people, make decisions, and influence the formulation of public policy. The roles ...
and was the Governor of the
Central Bank of the Republic of Turkey
The Central Bank of the Republic of Türkiye (CBRT) () is the central bank of Turkey. Its responsibilities include conducting monetary and exchange rate policy, managing international reserves of Turkey, as well as printing and issuing banknotes ...
between 2006 and 2011.
Biography
Born in the western
Anatolia
Anatolia (), also known as Asia Minor, is a peninsula in West Asia that makes up the majority of the land area of Turkey. It is the westernmost protrusion of Asia and is geographically bounded by the Mediterranean Sea to the south, the Aegean ...
n city of
Uşak
Uşak () is a city in the interior part of the Aegean Region of Turkey. It is the seat of Uşak Province and Uşak District.B.A.
A Bachelor of Arts (abbreviated B.A., BA, A.B. or AB; from the Latin ', ', or ') is the holder of a bachelor's degree awarded for an undergraduate program in the liberal arts, or, in some cases, other disciplines. A Bachelor of Arts degree ...
degree in economics at
City University London
City, University of London was a public university from 1966 to 2024 in London, England. It merged with St George's, University of London to form City St George's, University of London in August 2024. The names "City, University of London" and ...
University College London
University College London (Trade name, branded as UCL) is a Public university, public research university in London, England. It is a Member institutions of the University of London, member institution of the Federal university, federal Uni ...
.
Yılmaz joined the Central Bank of
Turkey
Turkey, officially the Republic of Türkiye, is a country mainly located in Anatolia in West Asia, with a relatively small part called East Thrace in Southeast Europe. It borders the Black Sea to the north; Georgia (country), Georgia, Armen ...
in 1980 and started to work in the Foreign Debt Rescheduling Division. Then he served in the area of Exchange Rates and Reserve Management. He was promoted to the post of Deputy Director of Foreign Exchange Transactions Division in 1993, Director of Interbank Money Market Division in 1995, and Director of Balance of Payments Division in 1996. Yılmaz became Deputy Executive Director at Markets Department in 1996 and was responsible for the Foreign Exchange Risk Management, Credits, Foreign Exchange and FX Banknotes Markets and Open Market Operations. He was appointed Executive Director of the Workers’ Remittances (Non-Resident FX Deposits) Department in 2002. Yılmaz became a Member of the Board on May 1, 2003, and re-elected to this position by April 2006.
Durmuş Yılmaz was appointed Governor of the Central Bank of the Republic of Turkey on April 18, 2006 following the approval of President
Ahmet Necdet Sezer
Ahmet Necdet Sezer (; born 13 September 1941) is a Turkish statesman and judge who served as the tenth president of Turkey from 2000 to 2007. Previously, he was president of the Constitutional Court of Turkey from January 1998 to May 2000. The ...
. One month before, Sezer rejected the government's first candidate for the post, Adnan Buyukdeniz, chief executive of AlBaraka Turk, an interest-free financial institution founded with Arab capital. The post of governorship was held by Erdem Başçı, an interim governor since March 14, 2006 when the widely respected
Süreyya Serdengeçti
Süreyya Serdengeçti is a Turkish economist and former Governor of the Central Bank of Turkey. He is currently working as a lecturer in Economics at the TOBB University of Economics and Technology in Ankara, Turkey.
Early life
He was born in ...
retired at the end of a five-year term that saw
chronic inflation
Chronic inflation is an economic phenomenon occurring when a country experiences high inflation for a prolonged period (several years or decades) due to continual increases in the money supply among other things. In countries with chronic infla ...
drop from double- to single-digit figures for the first time in three decades under a tight program backed by the
International Monetary Fund
The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution funded by 191 member countries, with headquarters in Washington, D.C. It is regarded as the global lender of las ...
.
Political career
Yılmaz was elected to parliament representing
Uşak
Uşak () is a city in the interior part of the Aegean Region of Turkey. It is the seat of Uşak Province and Uşak District.June 2015 general election, as a politician from the
Nationalist Movement Party
The Nationalist Movement Party, or alternatively translated as Nationalist Action Party (, MHP), is a Turkish Far-right politics, far-right, ultranationalism, ultranationalist Political parties in Turkey, political party. The group is often de ...
. He lost his seat in the November snap election. After his loss Yılmaz helped found the
Good Party
The Good Party (Turkish language, Turkish: ''İYİ Parti'') is a Turkish nationalism, nationalist, Kemalism, Kemalist and Conservatism, conservative List of political parties in Turkey, political party in Turkey, established on 25 October 2017 b ...
2018 elections
The following elections occurred in 2018. The National Democratic Institute also maintains a calendar of elections around the world.
Africa
*2018 Djiboutian parliamentary election 23 February 2018
*2018 Sierra Leonean general election 7 and 31 ...