Economics
IMF Urges Crisis-Hit Turkey to Go All In to Fix Its Economy
- Lira, market turmoil behind downgrade in IMF’s growth outlook
- Turkey needs tighter monetary policy, fiscal steps, IMF says
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The International Monetary Fund slashed its growth outlook for Turkey and called for a sweeping mix of measures to shield the economy after recent market turmoil and declines in the currency.
With pressure on the lira forcing the central bank to raise interest rates and sending inflation to near the fastest pace since President Recep Tayyip Erdogan came to power 15 years ago, the IMF is taking an increasingly dim view of Turkey’s prospects.