Friday, May 8, 2009

EconNews Roundup

Quote du jour: As long as they can fund themselves, why go to the IMF? Let me tell you three reasons: 1. They won't keep funding themselves forever. 2. Expectations& investor confidence: The Fund deal has been built into expectations to such an extent that a no-deal at this stage would raise concerns with domestics and international investors. 3. It is the FX, stupid: Turkey still has a external financing gap, despite the decreased current account deficit. This has nothing to do with funding the budget deficit.

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