TURKEY GOES IT ALONE

摘要

Facing an exploding budget deficit and enormous domestic debts, the Turkish government continues to have a ravenous appetite for borrowing, but still wants to avoid funds from the IMF.rnThe Turkish government is attempting to finance its yawning budget deficit and a mountain of domestic debt with new borrowing, without resorting to the International Monetary Fund (IMF). It is drawing to the country some of the cash held by Turks in foreign banks, lengthening bond maturities, and attempting to beat down interest rates. It also aims to cut back social security and healthcare programmes and curtail the spending of municipalities.