Turkey: 2011 Article IV Consultation: Staff Report; Staff Supplements; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Turkey

January 27, 2012

Preview Citation

Format: Chicago

Turkey: 2011 Article IV Consultation: Staff Report; Staff Supplements; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Turkey, (USA: International Monetary Fund, 2012) accessed December 23, 2024

Summary

This 2011 Article IV Consultation highlights that the Turkish economy continued to grow strongly through the first half of 2011, reaping the benefits of institutional reforms and revamped policy frameworks implemented in the previous decade. However, growth became increasingly fueled by domestic demand and imports. Policy responses were insufficient to prevent the development of a large current account deficit and high inflation. Executive Directors have commended the Turkish authorities for their agile economic management during the global crisis, which, together with structural reforms undertaken earlier, contributed to a rapid recovery.

Subject: Banking, Depreciation, Exports, Financial institutions, Fiscal policy, Fiscal stance, Foreign exchange, Imports, Inflation, International trade, Loans, Prices

Keywords: Africa, Aggregate capital adequacy ratio, CR, Estimate, Europe, Financial market development, Fiscal stance, Global, IMF staff calculation, IMF staff estimate, Imports, Inflation, ISCR, Loans, Staff supplement

Publication Details

Pages:

117
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2012/016
Stock No:

1TUREA2012001
ISBN:

9781463934484
ISSN:

1934-7685

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