IMF: Turkey is inspiring

IMF First Deputy Managing Director David Lipton said in his article entitled as “Enabling Economic Transformation in the Middle East and North Africa” that Turkey provides an inspiring example of a Muslim country that has chosen fundamental economic reform and has become a vibrant emerging market economy with a strong and growing middle class.

Lipton also mentioned that “Central and Eastern Europe after the fall of communism, the prospect of EU membership held out a powerful promise that served as a political and economic anchor and helped orient the transformation to market-based economies.

The prospect of EU membership provided an initial impetus to reforms.” On the other hand Fitch raised 9 Turkish banks’ credit rating after raising Turkey’s credit rating to investment grade.

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