IMF chief praises Turkey's role in fund

Lagarde said IMF agreed with Turkish authorities that it was important to focus more on increasing domestic savings to reduce the vulnerabilities that could come from short-term capital inflows

IMF chief praises Turkey's role in fund

 World Bulletin/News Desk

IMF Managing Director Christine Lagarde has praised Turkey's role in the fund as well as in the Group of Twenty.      

"I would like to emphasize that the IMF very much values the constructive and successful relationship between the Fund and Turkey, and we appreciate the important role Turkey plays both in the IMF and in the Group of Twenty. We cooperate in many areas, and look forward to our continuing dialogue," Lagarde said in a press release on Friday a day after she wrapped up her visit to Istanbul, where she met with the Turkish officials and attended the 7th Investment Advisory Council.      

Lagarde said she offered her congratulations to Turkish Prime Minister Recep Tayyip Erdogan and his colleagues on the reforms and achievements of the last ten years that have led to macroeconomic stability and enabled a major transformation of the Turkish economy.      

"The economy is now at a critical juncture. Economic growth is projected to decelerate this year. The deceleration in growth has its benefits, allowing a reduction in the current account deficit and inflation, two areas which require special attention," Lagarde said in the press release.      

Lagarde said IMF agreed with Turkish authorities that it was important to focus more on increasing domestic savings to reduce the vulnerabilities that could come from short-term capital inflows, adding that she welcomed the Turkish government's recent initiatives to increase private savings, including through the reform of private pensions.      

"At the Investment Advisory Council meeting, I participated in discussions about how to increase further Turkey's attractiveness as a major investment destination. The IMF contributes in this area through our ongoing policy dialogue with the authorities," Lagarde said.

"IMF needs Turkey"

Chairman of the ruling Justice and Development (AK) Party and Turkish Premier Recep Tayyip Erdogan said on Saturday that he was told by IMF President Christine Lagarde that Turkey no longer needed the IMF but that IMF needed Turkey.      

"This is Turkey. This is where Turkey has come," Erdogan said as he addressed his party's followers at a congress held in the north-eastern province of Rize on Saturday.      

We have opened a new and clean page in Turkish politics. We are also a political party that has changed the meaning and style of politics in Turkey, Erdogan stressed.      

AK Party has gone beyond the borders of Turkey. It has become a political party on which thesis are being written on. AK Party has become a global party, Erdogan also said.   

Güncelleme Tarihi: 12 Mayıs 2012, 15:19

Muhammed Öylek

YORUM EKLE