Anchor on the Way? Will Turkey Reach a Deal with the IMF?
Posted by hkarner - 21. September 2009
- Most analysts believe an IMF program is needed in Turkey – the sooner, the better. Nevertheless, Turkey’s ruling AK party has only inched towards a new IMF deal since its last US$10 billion stand-by program expired in May 2008. Analysts are primarily concerned about the long-term consequences for Turkey’s economy and Turkish assets if an IMF deal is not reached. Turkish officials seem divided over the value of such a deal, and it is unclear whether the government’s release of a medium term economic plan for 2010-2012 in September 2009 will help move the negotiations along.