Turkey: Request for Stand-By Arrangement and Extension of Repurchase Expectations: Staff Report; Staff Supplements; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Turkey

IMF Staff Country Reports, November 17, 2005

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Turkey: Request for Stand-By Arrangement and Extension of Repurchase Expectations: Staff Report; Staff Supplements; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Turkey

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Bibliographic details

• Authors: Arrangement, Extension
• Published: November 17, 2005
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9781451838152.002

Overview

• Paper discusses Turkey’s Request for Stand-By Arrangement (SBA) and Extension of Repurchase Expectations.
• The authorities have prepared a three-year economic program for which they are seeking the support of the IMF.
• Implemented successfully, the program should help Turkey converge toward the economies of the European Union and exit successfully from IMF financial support.
• Publication date: November 17, 2005.

Key findings and macroeconomic outcomes

• Output has grown rapidly.
• Inflation has fallen to its lowest level in a generation.
• Government debt has declined markedly.

Remaining vulnerabilities

• Significant vulnerabilities remain (specifics not detailed on the landing page).

Program intent and expected impact

• The three-year economic program aims to address remaining vulnerabilities and support convergence with the economies of the European Union.
• The program is presented in the context of a request for IMF support via a Stand-By Arrangement and an extension of repurchase expectations.

Subject coverage and keywords

• Subjects: Balance of payments, Banking, Current account deficits, Economic sectors, External debt, Inflation, Prices, Public debt, Public sector.
• Keywords: asset recovery effort, car import, CR, Current account deficits, deficit, Fund credit, Global, import growth, Inflation, ISCR, Public sector, repurchase expectation, SDR, Stand-By Arrangement, tax administration reform bill, Turkey.