Turkey: World Bank official gets treasury

The Turkish government has appointed a senior World Bank official as minister in charge of the economy.

Kemal Dervis has been given wide ranging powers to restore economic stability after two weeks of financial turmoil that saw the Turkish currency, the lira, lose about a quarter of its value.

He'll be in charge of the treasury and the country's fragile banking system.

The BBC correspondent in Istanbul says the prime minister, Bulent Ecevit, hopes that Mr Dervis -- a World Bank employee for twenty years -- enjoys enough international respect to help negotiate new loans for Turkey. Mr Ecevit also appointed a new governor to the central bank, Sureyya Serdengecti.

From the newsroom of the BBC World Service