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.