IMF: Turkey is inspiring

Thursday, November 15, 2012

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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