Statement on Turkey from IMF European Department Director. The Mehmet Şimşek detail

A press conference regarding the European regional economies was held within the scope of the IMF-World Bank Spring Meetings.

Upon a question regarding the Turkish economy, Kammer said that they saw a policy change in Turkey in the middle of last year, with significant tightening on the monetary side and fiscal consolidation on the fiscal side, including covering increased expenditures due to the earthquake.

Stating that they have seen some successes on that front, Kammer expressed that successes on the disinflation side will take a long time. Kammer said, "However, thanks to this policy environment, vulnerabilities toward the Turkish economy have decreased."

"A LONG-TERM PROGRAM"

Pointing out that they met with Minister of Treasury and Finance Mehmet Şimşek yesterday, Kammer conveyed that Şimşek drew attention to the fact that "the reforms are a long-term program" and said that this program would be carried out.

Kammer said, "The program is expected to further reduce vulnerability, permanently lower inflation over time, and at the same time create the necessary environment for investment.

Thus, there will be a change in the growth model and a rebalancing of growth," he said.

ANSWER TO THE CURIOUS QUESTION

Responding to a question about whether there is a need for a new IMF program in Turkey and whether this issue is being discussed with Turkish authorities, Kammer replied, "First of all, we support the reform program currently in place.

We would also recommend to Turkey the program that the economic team there is following.

There are no discussions regarding any IMF program to support Turkey."