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Turkey has one of the worst track records of any country for following through economic reform. It has signed 16 programmes with the IMF but abandoned all but two of them halfway through. Over the past 10 years there have been as many coalition governments – and a military intervention – each of which has launched its own economic stabilization programme. None amounted to anything. But as Turkey enters the new millennium equipped with a new IMF accord, belief is virtually universal that this time success is within the country’s grasp. |
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