Turkey pays off its IMF tab
Hurriyet reports that Turkey is clearing its debts to the International Monetary Fund: All of the debt Turkey owes to the International Monetary Fund (IMF) will be paid tomorrow, as the debt, which rounded up to $23.5 billion, will be ended with the payment of last slice of $422.1 million. Turkey’s last standby agreement with ...
Hurriyet reports that Turkey is clearing its debts to the International Monetary Fund:
Hurriyet reports that Turkey is clearing its debts to the International Monetary Fund:
All of the debt Turkey owes to the International Monetary Fund (IMF) will be paid tomorrow, as the debt, which rounded up to $23.5 billion, will be ended with the payment of last slice of $422.1 million.
Turkey’s last standby agreement with the fund was in 2005, and it expired in May 2008. The country has gradually reduced its debt from $23.5 billion in 2002.
In passing that milestone, Turkish Prime Minister Recep Tayyip Erdogan has taken several shots at the global lender:
Prime Minister Erdogan said to the audience at the European Bank for Reconstruction and Development Annual Meeting, "We have not signed a stand-by agreement with the IMF. Why is that? Because, they want other things from us, such as to teach us politics. I am a politician and I will only listen to or learn from politicians when it comes to politics. I will not be given a lesson on politics from a civil servant," stated Erdogan.
David Bosco is a professor at Indiana University’s Hamilton Lugar School of Global and International Studies. He is the author of The Poseidon Project: The Struggle to Govern the World’s Oceans. Twitter: @multilateralist
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