Turkish economist, former head of UN Development Program Kemal Dervis dies at age of 74

The former head of the United Nations Development Program Kemal Dervis died at the age of 74. Dervis was also an economist from Turkey.

In early 2001, amid the worst economic crisis in Turkey's modern history, Dervis left his job at the World Bank, where he had worked for more than two decades, and joined the government at the invitation of then-Prime Minister Bulent Ecevit. Inflation was soaring and the stock market had crashed.

As minister of economic affairs, Dervis was largely responsible for the successful three-year economic recovery plan launched that year, which included major structural changes and bank reforms.