IMF warning from former minister Ufuk Söylemez: U-turn in the economy

Evaluating the increasing balance sheet risks in the Turkish economy, Brad W. Setser, an expert economist at the Foreign Relations Council, a think tank based in the United States, said: “IMF possibility is also on the horizon” said.

Subject Republic’Ufuk Söylemez, Former Minister of State in Charge of the Economy, evaluated e. “On June 22, Erdoğan said, ‘We will not give up on NAS, we will lower the interest rate,’ with great assertion at the rally grounds. If the policy of increasing interest rates from the low interest policy he advocated is now passed, there will be a worse turn than the U-turn. It is also a mystery how the Turkish economy will keep up with this dizzying turn. I wouldn’t be surprised if they make Turkey need the IMF under these conditions. he said.

(The Horizon Doesn’t Tell)

“THE PEOPLE ARE IN HARD SITUATION”

Saying that he is against the IMF program, Söylemez continued:

“For the first time, a political power left itself with economic debris. The people are already in a state of despair in the face of inflation, unemployment, corruption and poverty. And with the IMF’s austerity programs, the Turkish people will have no room to breathe. There is nothing Mehmet Şimşek can do. Until the elections, they will turn the wheel by finding hot money from moneylenders they call ‘external forces’. The minister who put Turkey on the gray list was appointed as the head of the economy. So sad.”