The Story of a Stabilization Effort: Turkey (2000-2002)

Abstract

The purpose of the paper is to give an overview of the Turkish economy before and during the implementation of two different stabilization programs over the 2000-2002 period. Reforms undertaken and things that need to be done in both general terms and in the monetary and fiscal area are listed. The targets of the program are compared with the realizations. Success of the program is discussed in reference to developments in the main economic indicators. The most significant issue remaining concerns debt sustainability. Hence this topic is given special attention against the background of debt stock composition.Turkey, stabilization