An assesment of the relationship between Turkey and the IMF after 1980 with an fiscal policy perspective

IMF has been created to make international cooperation on finanacial matters stronger, for providing stable growth of foreign trade and for solving the problems of balance of payment. However, the role of IMF changed considerably because of the recent events occured in the world. Fundamentally, the IMF formed policies in order to solve problems of balance of payment till 1980s, expands its effectiveness much and more by controlling the applications called structural adjustment programs after 1980s, undertakes the role an international lender of last resort on recent crises occured because of globalization trend and sees itself as an international lender of last resort and crisis manager during the latest financial crisis. This study has been aimed to analyse IMF-Supported Stabilization Programs put in practice in Turkey (1958, 1970, 1978-79, 1980, 1994, 1999 and 2001) from the point of view of the Turkish fiscal policy. As consequences of these, it has also been investigated seven Stand-By Arrangements endorsed between Turkey and IMF.