After suffering years of instability and crisis, Turkey is desperately looking macroeconomic and political stability in an ever-worsening of the world. In the short term, Turkey had to repay its debt, which amounted to more than 80% of GDP. By January 2004, Turkey entered the final stages of the recent $ 17 billion IMF loan programs. Each review requires Turkey to the specific objectives of exchange controls (such as lower inflation), the restructuring of the banking sector, public sector reform, and increasing privatization. Long-term goal of the country joining the European Union, will be achieved only when the EU required criteria are met. Elected in November 2002, and the first absolute majority in parliament in 15 years, the AKP party promised to meet both the IMF and the EU. Although his party AKP had Islamic roots, Prime Minister Erdogan is planning to prove that Turkey was stable, secular democracy. After Turkey meets the EU, the question remains: Will the EU "Christian club" to Muslim Turkey to "Hide
by Richard HK Vietor, Emily J. Thompson Source: Harvard Business School 25 pages. Publication Date: May 24, 2004. Prod. #: 704045-PDF-ENG
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