Turkey: from crisis to recovery

Author (Corporate)
Series Title
Series Details Vol.33, No.17, 20.9.04, p261-264
Publication Date 20/09/2004
ISSN 0047-083X
Content Type

For a few months in late 2000 and early 2001, Turkey hovered on the brink of economic collapse. High inflation, a large public debt, a growing current account deficit, and delays in restructuring the economy triggered a loss of confidence among investors and caused a run on the country's banks. To deal with the crisis, the government undertook a sharp fiscal correction, floated the exchange rate, and initiated wide-ranging structural reforms as part of an ambitious package supported by the IMF. Three years later, Turkey is on its way to becoming a new tiger economy. But it has faltered before. Will it manage to stay the course this time? Michael Deppler and Reza Moghadam, respectively Director and Assistant Director in the IMF's European Department, spoke with Camilla Andersen of the IMF Survey about the country's prospects.

Source Link Link to Main Source http://www.imf.org/external/pubs/ft/survey/2004/092004.pdf
Related Links
BBC News: Turkey's fragile economic recovery, 6.10.04 http://news.bbc.co.uk/1/hi/business/3712804.stm
International Monetary Fund: Country information: Turkey and the IMF http://www.imf.org/external/country/TUR/index.htm

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