IMF First Deputy Managing Director Stanley Fischer said the programmes success depends on both the Turkish Governments resolve and the p...
He added however, that the success of the programme ultimately depended on the Turkish governments resolve and the private sectors support. IMF First Deputy Managing Director said the Turkish economy would recover if the programme was implemented with determination.
Fischer said full implementation of this programme will re-establish macro-economic stability and remove the structural problems in Turkeys economy and lay the ground for resuming economic growth once again. The IMF First Deputy Managing Director outlined Turkeys economic programmes salient features such as increasing the budget surplus excluding interest payments, speeding up the banking reform and bolstering confidence through structural reforms.
He added that through the determined implementation of these policies and the existence of a substantial amount of foreign financial resources leading to lower interest rates; the economy would once again get on the right track. Fischer pointed out that increasing transparency in the governance of key companies, the independence of the Central Bank through the new Central Bank Law were other significant aspects of the programme.