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The change in economic policy was timely; low foreign exchange reserves lead to fragility


International Monetary Fund (IMF) officials welcomed the policy change in the Turkish economy, saying that a sustainable and sustainable way is the key to achieving the goals of economic policy change.

BloombergHT to your news The IMF’s director general for Turkey, Donal McGettigan, spoke of two major areas in need of work, despite the protection and resistance of entrepreneurs to the agile core of the Turkish economy.

McGettigan said the first was to rebuild the buffers against uncertain shocks, and the second was to further boost the country’s economic potential to achieve strong and sustainable growth and employment in the coming years.

“Changes in economic policy were made in time”

The latest change in economic policy was made, and McGettigan said, “Tight and sustainable monetary policy that ensures price stability and is vital to Turkey’s confidence in foreign investors.” he said.

Stating that a policy change that causes the lira to appreciate, improve reliability and reduce the risk premium will gradually reduce inflation, McGettigan pointed to the fragility caused by low reserves:

“Low foreign exchange reserves, high need for external financing and high domestic foreign exchange deposits show that the economy is vulnerable to both domestic and international shocks and vulnerabilities. Thus, the fragility will remain high until the tampons are rebuilt. Sustained and consistent economic policy change will be key to achieving the goals. It will be important to rebuild the reserves. “

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