This web page presents information about the work of the IMF in the Republic of Türkiye, including the activities of the IMF Resident Representative Office. Additional information can be found on the Republic of Türkiye and IMF country page, including IMF reports and Executive Board documents that deal with the Republic of Türkiye.

Republic of Türkiye and the IMF Country Page

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Our Office

The IMF opened its office in Ankara in 2000. The office follows economic developments and policies in the Republic of Türkiye, liaises between the Turkish authorities and the IMF staff in Washington, and coordinates IMF technical assistance. It is also a source of information about IMF views for the public, local and foreign analysts, investors, academic and research institutions, and Republic of Türkiye's international partners and their diplomatic missions.

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At a Glance : Republic of Türkiye's Relations with the IMF

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News and Highlights

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Republic of Türkiye and the IMF

  • IMF Staff Concludes Staff Visit to Türkiye

    October 6, 2023

    “Despite the tragic earthquakes in February, growth has remained resilient and should reach 4.0 percent this year. With policies turning appropriately less accommodative, growth is projected at 3¼ percent in 2024 while inflation is forecast to fall to 46 percent at end-2024 from 69 percent at end-2023 as exchange rate pressures ease but backward-looking wage increases and expectations remain. As confidence builds, the demand for gold is expected to decline, thus reducing the external current account deficit (3.1 percent of GDP in 2024 versus 4.1 in 2023). This, together with better prospects for inflows including from official sources, should reduce pressure on reserves. Gross reserves reached $122.5 billion at end-September, but net of on- and off-balance sheet short-term liabilities remain negative.

  • On January 18, 2023, the IMF Executive Board Concluded the 2022 Article IV Consultation with the Republic of Türkiye

    August 18, 2023

    Türkiye made impressive economic gains over the past two decades. In the early 2000s, broad-based macroeconomic and structural reforms supported income catch-up towards advanced economies, poverty reduction, and marked disinflation. This moved Türkiye firmly into the upper middle-income bracket, while lifting nearly 30 percent of the population out of poverty. In recent years, however, as reforms waned, productivity gains slowed, and growth became increasingly dependent on externally-funded credit and demand stimulus. The newly-adopted Türkiye Economic Model—comprising low interest rates as well as a complex set of regulatory measures to direct credit to selected sectors and promote greater use of the lira in the economy—has exacerbated vulnerabilities.

  • IMF Executive Board Concludes 2022 Article IV Consultation with Türkiye

    February 15, 2023

    On January 18, 2023, the Executive Board of the International Monetary Fund concluded the consideration of the 2022 Article IV Consultation and the Financial Sector Stability Assessment with the Republic of Türkiye.

  • Republic of Türkiye: 2022 Article IV Consultation-Press Release; and Staff Report

    January 18, 2023

    Series:Country Report No. 2023/303

  • Republic of Türkiye: Financial System Stability Assessment

    January 18, 2023

    Series:Country Report No. 2023/304

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IMF Key Factsheets

The IMF at a Glance

Bir Bakışta IMF

The IMF and the World Bank

IMF ve Dünya Bankası

How the IMF Makes Decisions

IMF Kararlarını Nasıl Alıyor

Where the IMF Gets Its Money?

IMF Kaynaklarını Nereden Temin Ediyor

The G20 Mutual Assessment Program

G20 Karşılıklı Değerlendirme Süreci (MAP)

IMF Surveillance

IMF Gözetimi

IMF Lending

IMF Kredileri

IMF Capacity Development

IMF’nin Kapasite Geliştirme Faaliyetleri

Regional Economic Outlook Europe

November 8, 2023

Restoring Price Stability and Securing Strong and Green Growth

Europe is at a turning point. After last year’s crippling energy price shock caused by Russia’s invasion of Ukraine, Europe faces the difficult task of restoring price stability now while securing strong and green growth in the medium term. Economic activity has started to cool and inflation to fall as a result of monetary policy action, phasing-out supply shocks, and falling energy prices. Sustained wage growth could, however, delay achieving price stability by 2025. Failing to tackle inflation now will risk additional growth damage in a world exposed to structural shocks from fragmentation and climate change. These global headwinds add to Europe’s long-standing productivity and convergence problems. To lift Europe’s potential for strong and green growth, countries need to remove obstacles to economic dynamism and upgrade infrastructure. This will strengthen business-friendly conditions and investment. Cooperation at the European level and with international partners will position Europe as a leader in the climate transition and support economic stability across the continent.


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Useful Links and Archive

Ministries

Data Sources

Turkish News Sites