Browsing by Author "Ahmed, Asad"

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    Between guidance and governance: the IMF's ınfluence on Turkey's economic trajectory, from 1980 till 1999
    (Bilkent University, 2023) Ibrahim, Ahmed; Alaryan, Ahed; Ahmed, Asad; Rejepbayev, Berdigylych; Abrayev, Maksat; Abid, Talha Rehman
    The period between 1980 to 1999 was plunged by economic difficulty for Turkey which was worsened by political instability, a military coup d'etat, and a devastating earthquake. The Turkish government seeks assistance from the IMF to stabilize the economy by means of liberalization, aligning with the IMF's Program and suggested reforms. Structural reforms were implemented by the government, leading to a reduction in inflation and changes in financial policies. However, the drop in credit rating and high foreign trade deficits indicated the effects of overvalued currency, insufficient preventive measures, and devastating unfortunate events during the efforts of economic stabilization. The similar challenges were faced by Mexico and Argentina during the same period of time, but these countries navigated through economic instability and crises by implementing various strategies. Their distinct responses in handling similar crises emphasize the importance of individual historical contexts in evaluating economic performance and their relation with the IMF. This research aims to assess the influence of the IMF in policy formulations in Turkey, considering an array of sources including IMF recommendations, policy negotiations, and comparative studies with similar nations. The analysis will evaluate the compromises made, their impact on Turkey's future, and the implications for economic stability and resilience.