TÜRKİYE’NİN IMF DENEYİMİNE BİR BAKIŞ

Öz Turkey has made many arrangements with the International Monetary Fund (IMF) since it became a member in 1947. IMF policies, which were focused on stabilization until the 1980's, have begun to involve in structural adjustment since the 1980's. Turkey's process of transition from import substitution strategy to export led growth strategy has prepared the background for IMF's policies , involving structural adjustment in Turkey. Throughout Turkey's history with the IMF, there have been 19 arrangements made allowing for large amounts of IMF lending. Upon analyzing the effects of these IMF-supported programs, they were found to have positive effects on the foreign trade balance and negative effects on the growth rate of GNP and inflation rate. The IMF does not carry out policies aimed at increasing growth rate in the short run, rather it has the aim of sustainable growth in the medium and long run. Turkey's frequent and continuous requests for IMF arrangements, show that IMF policies could not achieve stabilization and sustainable growth in Turkey since 1947. The Disinflation Program, which was instituted in 1999, caused and deepened the economic crises in 2000 and 2001. From this perspective, it can be concluded that, in addition to their negative effects, these IMF-Supported Programs can also lead to economic crises.