(ECO) IMF WELCOMES TURKEY'S MEDIUM-TERM PROGRAM.WASHINGTON D.C., Sep 17, 2009 (TUR tur: see ibex. ) -- Rachel van Elkan, Mission Chief for Turkey at the International Monetary Fund (IMF IMF See: International Monetary Fund IMF See International Monetary Fund (IMF). ), has said that the IMF welcomed Turkey's new Medium-Term Program. Van Elkan said in a statement on Wednesday, "we are encouraged by the Turkish authorities' announcement of a medium-term framework that aims to gradually reverse the deterioration in the country's public finances, boost private sector activity and restore solid economic growth." "Reflecting the considerable impact of the global crisis on Turkey, the authorities' plan encompasses realistic macroeconomic mac·ro·ec·o·nom·ics n. (used with a sing. verb) The study of the overall aspects and workings of a national economy, such as income, output, and the interrelationship among diverse economic sectors. projections and incorporates the appropriate goal of stabilizing the public debt-to-GDP ratio Debt-to-GDP Ratio A measure of a country's federal debt in relation to its gross domestic product (GDP). By comparing what a country owes and what it produces, the debt-to-GDP ratio indicates the country's ability to pay back its debt. by 2011 and reducing it thereafter. We also welcome the planned introduction of a fiscal rule to establish prudent budgetary targets over the longer term," she said. "To meet the authorities' goal of controlling the public debt burden, it will be necessary to adopt supporting measures and structural reforms, including policies to address key spending pressures. We look forward to continuing our policy dialogue with the Turkish authorities," she added. (THROUGH ASIA Asia (ā`zhə), the world's largest continent, 17,139,000 sq mi (44,390,000 sq km), with about 3.3 billion people, nearly three fifths of the world's total population. PULSE) |
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