Friday, 26 December 2008There is a stronger possibility that Turkey and the International Monetary Fund (IMF) would agree on a new stand-by deal, said an analyst with the international rating group Standard & Poor's.
"Odds are stronger now that Turkey and the IMF will make a deal, which would enhance investors' confidence ahead of the local elections," Farouk Soussa told the Anadolu Agency.
Soussa rejected the idea that Turkey could experience a recession if it failed to secure a deal with the Fund.
"An economic recession in Turkey does not hinge on the agreement that Turkey will make with the IMF," he said.
Moody's, another international rating agency, has said Turkey would face recession in a couple of years in the absence of an IMF deal.
LONDON (A.A)
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Friday, 26 December 2008
LONDON (A.A)
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