IMF and Turkey

The International Monetary Fund said Wednesday that it was ready to continue to play an effective role in supporting Turkey's efforts to stabilize the economy, amid a tough global financial environment that has seen soaring commodity prices threaten the nation's economic gains in recent years.

"The fund can continue to play an effective role in supporting Turkey'sefforts to entrench economic stability and tackle its remainingvulnerabilities," said the IMF in a statement Wednesday.

The statement came after the executive board, the fund's decision-makingbody, completed an evaluation of Turkey's three successive IMF-backed stand-by arrangements between 1999 and 2005, the last of which ended in May.The board's members include more than 20 directors representing the IMF's 184member nations. (more)

I don't there is a need for strong IMF support, the mission is accomplished. The only case for IMF support would be a global financial crisis where investors aggresively pulling their funds away from emerging markets, and in that case I don't think IMF will have enough ammunition to help Turkey.