IMF Staff Country Reports

Turkey: Seventh Review and Inflation Consultation Under the Stand-By Arrangement and Request for Waiver of Nonobservance of Performance Criteria: Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Turkey.

August 7, 2008

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Turkey: Seventh Review and Inflation Consultation Under the Stand-By Arrangement and Request for Waiver of Nonobservance of Performance Criteria: Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Turkey., (USA: International Monetary Fund, 2008) accessed November 8, 2024

Summary

This paper discusses key findings of the Seventh Review and Inflation Consultation Under the Stand-By Arrangement for Turkey. Macroeconomic developments have become less favorable since the last review in May 2007. Political developments have distracted attention from an ambitious economic agenda. As a result, performance under the IMF-supported program suffered, with fiscal policy imparting an unplanned stimulus in 2007 and structural reforms meeting with delays. IMF staff welcomes the adoption of a medium-term fiscal framework to guide future policy, and encourages the authorities to strengthen its institutional underpinnings.

Subject: Banking, Economic sectors, External debt, Fiscal policy, Fiscal stance, Inflation, Prices, Public debt, Public sector

Keywords: April data, Central bank analysis, CR, EU accession negotiations, Fiscal stance, Global, Hike, Holding, IMF staff calculation, Inflation, Inflation consultation clause, Inflation report, ISCR, Midpoint inflation, Public sector

Publication Details

  • Pages:

    114

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 2008/272

  • Stock No:

    1TUREA2008001

  • ISBN:

    9781451838244

  • ISSN:

    1934-7685

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