Turkish authorities on August 21 “firmly denied rumours on various platforms claiming that Treasury and Finance Minister Mehmet Simsek intended to resign from his post”, pro-government newspaper Daily Sabah wrote on August 21.

It added that the “rumors gained traction after several platforms claimed Simsek had resigned nearly two weeks ago and that Vice President Cevdet Yilmaz convinced him to reverse his decision”.

The newspaper carried a statement from the Turkish Presidency's Directorate of Communication's Center for Combatting Disinformation, stating: "The allegations that Finance Minister Mehmet Simsek decided to resign and was persuaded to remain in office are not true."

The statement reportedly emphasised that the rumours were “deliberately” spread to “create uncertainty and mistrust in the markets”.

"Please do not pay attention to disinformative news that is being circulated to cause unease and insecurity in the markets," it added.

Ex-Wall Street banker Simsek took the helm at the finance ministry after last year's presidential and parliamentary elections. He is charged with bringing in orthodox economic policy to resolve Turkey’s longstanding severe economic crisis and create an economy that brings back the foreign capital that fled as “Erdoganomics”, in the eyes of many critics, wrought economic havoc.

Simsek suffered a blow in February when the short tenure as central bank governor of another ex-Wall Street banker, Hafize Gaye Erkan, came to an end after she claimed she was subject to a media “smear campaign”.