Former Turkish state minister for economy dies at 74

By Sevgi Ceren Gokkoyun

WASHINGTON (AA) – A well-known economist and former Turkish State Minister of Economic Affairs Kemal Dervis died on Monday at the age of 74.

Dervis was receiving treatment in the US for a long time due to his illness.

He was born in Istanbul in 1949 and received his Bachelor's and Master's degrees in economics from the London School of Economics, and his PhD from Princeton University in the US.

He began his career at the World Bank in 1977 and became vice president for the Middle East and North Africa in 1996.

Amid the financial crisis, he was appointed Türkiye's state minister for economy in March 2001.

In 2001-2002, Dervis was responsible for launching a reform program while negotiating with the IMF, and later in the country's general elections on Nov. 3, 2002, he was elected member of parliament from the Republican People's Party (CHP).

After resigning from parliament in 2005, he served the United Nations Development Program (UNDP) as president until 2009.