Turkish bankers, unions question need for IMFThe governor of the Turkish central bank, Durmuş Yılmaz, cast doubt on whether Turkey would renew its arrangement with the IMF. In early August he said: “there is no need to sign a credit agreement with the IMF at the current point.” But he did stress the need for continued fiscal discipline. In September the Confederation of Turkish Labor Unions (Türk-İş) called on the government to sever relations with the IMF saying that Fund conditionality is preventing the government from making necessary increases in social expenditure. They called for the government to target a primary budget surplus of 3.5 per cent rather than the 6.5 per cent required by the IMF. This text may be freely used providing the source is credited. This page is: <http://brettonwoodsproject.org/art.shtml?x=557171> Published: 5 October 2007 , last edited: 5 October 2007 Viewings since posted: 6733 |
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