IMF deal with Turkey may be messy
Güncelleme Tarihi:
Bloomberg
Oluşturulma Tarihi: Nisan 24, 2009 00:00
ISTANBUL - The International Monetary Fund’s estimate for a 5.1 percent contraction in Turkish gross domestic product this year may make agreement on a new loan accord with the country more difficult, Royal Bank of Scotland said yesterday.
The fund’s prediction for economic output contrasts with the government’s target of a contraction of 3.6 percent in 2009, Tim Ash, head of emerging-market economics at the London-based bank, said in an e-mailed report.
"The IMF’s more bearish real GDP growth forecast could complicate negotiations over a new program with Turkey, as this would suggest an even wider budget deficit/budget financing need for 2009," he said.
"The IMF’s more bearish real GDP growth forecast could complicate negotiations over a new program with Turkey, as this would suggest an even wider budget deficit/budget financing need for 2009," he said.