FT suggests a new furmula based on IMF's approach to Turkey
YAYINLAMA
GÜNCELLEME
While discussions on prospects of funding EU member countries through IMF are underway, British economy daily Financial Times shows the IMF’s approach to Turkey during the crisis of 2001 as an alternative. The article written by John McDermott indicates, "An alternative might be to follow the IMF’s approach to Turkey in 2001, ‘which helped Ankara roll over its giant financing needs while still borrowing in private markets’."The article writes, "If the IMF funds are ‘precautionary’ (i.e. can only be drawn upon after a country loses market access) then this would limit the impact"also adding, "All in all, it’s better to have the IMF involved than sitting on the sidelines."