IMF deal with Turkey may be messy
Bloomberg
The fund’s prediction for economic output contrasts with the government’s target of a contraction of 3.6 percent in 2009, Tim Ash, head of emerging-market economics at the London-based bank, said in an e-mailed report."The IMF’s more bearish real GDP growth forecast could complicate negotiations over a new program with Turkey, as this would suggest an even wider budget deficit/budget financing need for 2009," he said.
