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Türkiye’s Finance Minister Simsek embarks on US visit for G20, IMF, World Bank meetings

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Explained: Türkiye's inflation dilemma goes beyond interest rate cuts
April 22, 2025 12:12 PM GMT+03:00
Simsek’s agenda in Washington includes a high-level meeting with his US counterpart, Bessent, to discuss economic ties

Türkiye's Treasury and Finance Minister Mehmet Simsek began a visit to the U.S. on Monday to attend the Spring Meetings of the G20, the International Monetary Fund (IMF), and the World Bank, as well as to hold a series of high-level engagements with investors, multilateral development banks, and prominent policy institutions.

According to information obtained by Anadolu Agency from the ministry, Simsek is scheduled to attend multiple investor meetings, deliver speeches at prominent think tanks, hold bilateral discussions with his international counterparts, and meet with senior executives from global development banks.

In a statement made on Sunday regarding the visit, Simsek said he would first hold meetings in New York with credit rating agencies and U.S.-based direct investors. He noted that they also plan to meet with representatives from the real sector, particularly U.S. firms that are looking to shift their supply chains to Türkiye.

Türkiye’s Finance Minister Simsek embarks on US visit for G20, IMF, World Bank meetings
Türkiye’s Finance Minister Simsek embarks on US visit for G20, IMF, World Bank meetings
Türkiye’s Finance Minister Simsek embarks on US visit for G20, IMF, World Bank meetings
Mehmet Simsek at ADF2025
Turkish Treasury and Finance Minister Mehmet Simsek attends the "Protectionism: The End of Globalization?" panel within the fourth edition of the Antalya Diplomacy Forum in Antalya, Türkiye, April 11, 2025. (AA Photo)

"We will also have similar programs in Washington. The U.S. Chamber of Commerce is organizing a large-scale conference, where I will deliver a speech," he said, adding that the schedule includes between 14 and 17 bilateral meetings or gatherings hosted by investment banks per day.

Simsek emphasized that all meetings would reinforce the message that Türkiye’s economic program remains unchanged and is backed by strong political will. He also said the government's determination to implement the program is evident in its actions, stressing that the current situation in Türkiye is not unlike what is being observed globally and is expected to be temporary, as reflected in market pricing.

Turkish finance minister's meetings begin in New York

The first stop of Simsek’s U.S. visit is New York, where he is attending a major investor conference organized by the Türkiye-U.S. Business Council (TAIK) and U.S-based investment bank Citigroup. The event brings together a wide group of portfolio investors and representatives from the real sector. He is also expected to hold separate meetings with senior executives of the world’s three leading credit rating agencies.

Central bank governor Fatih Karahan is also expected to accompany Simsek during the New York leg of the visit.

Türkiye’s Finance Minister Simsek embarks on US visit for G20, IMF, World Bank meetings
Türkiye’s Finance Minister Simsek embarks on US visit for G20, IMF, World Bank meetings
Türkiye’s Finance Minister Simsek embarks on US visit for G20, IMF, World Bank meetings
CBRT Governor Fatih Karahan delivers a speech
Governor of the Central Bank of the Republic of Türkiye (CBRT), Fatih Karahan, delivers a speech at the International Arab Banking Summit in Istanbul, Türkiye, on May 24, 2024. (AA Photo)

Starting April 22, Simsek will continue his program in Washington, D.C., where he will participate in a summit organized by the U.S. Chamber of Commerce. One of the key events on the agenda includes a panel discussion titled “The Future of the Financial System,” in which Simsek will speak alongside former World Bank President David Malpass.

In addition, he is scheduled to attend a meeting hosted by the Atlantic Council, a leading U.S. think tank, where he will engage with academics, analysts, policymakers, and investors.

Meeting with US Treasury Secretary Bessent

As part of his Washington program, Simsek will also meet with U.S. Treasury Secretary Scott Bessent.

In both large-scale and more exclusive investor meetings organized by global investment banks, Simsek will provide evaluations on recent developments in the Turkish economy, share insights on global economic trends, and outline Türkiye’s economic priorities going forward.

He is also scheduled to participate in the G20 Finance Ministers’ Meeting and hold discussions with senior executives from major multilateral development institutions, including the European Bank for Reconstruction and Development (EBRD), the Asian Infrastructure Investment Bank (AIIB), the European Investment Bank (EIB), the World Bank, and the International Finance Corporation (IFC).

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April 22, 2025 12:12 PM GMT+03:00
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