Financial Programming and Policy: The Case of Turkey

This volume contains a series of workshops designed to introduce readers to the process of formulating a macroeconomic adjustment program. The design of a consistent set of policies intended to move an economy toward internal and external balance is a central task of the financial programming courses offered by the IMF Institute. The workshops present the macroeconomic concepts and accounting and behavioral relationships needed to develop, step-by-step, a reference scenario for the Turkish economy for a selected program year based on the assumption that macroeconomic policies from the preceding year will remain unchanged. Depending on the assessment of financial and structural problems that emerges from the reference scenario, a program scenario can then be designed with an alternative set of policies. The selected initial program year in these workshops is 1996, and medium-term projections with both sets of policies extend through 2000. Read more