THE IMF SUPPORTED MACROECONOMIC STABILISATION PROGRAMMES IN TURKEY:A LOOKING THROUGH THE 1980S

This study concerned with the macroeconomic reforms supported by the IMF in
Turkey in 1980s. The purpose of the study is to examine these programmes, mam policy tools
of them as well as their impact on theTurkish economy. The objective of the programmes
were not only to stabilise the economy, but also to realise the structural transformation.of.the
Turkish economy.. The study concludes that one of the most favourable results'of the
programme was the remarkable increase in the Turkish exports in 1980s. However, providing
fiscal balance was one of the weakest aspects of the IMF supported macroeconomic stabilisation programmes. Instead of a partial success was obtained in disinflationary process in
early 1980s, the programmes showed highly poor performance in reducing inflation in the rest
of 1980s. If any attempt is taken to bring inflation down in Turkey in future, first of all it
would require a comprehensive fiscal reform.