Saturday, August 1, 2009

EconNews Roundup

Yet more IMF mambo jumbo- this time from the business perspective

This is all from Hurriyet, as the Economics section has no news from Tuesday to Thursday for some weird reason. Unfortunately, those were the hottest days in terms of Economics. I was planning to include a couple of items on the MPC minutes, Inflation Report, Trade Statistics and the like, but there is absolutely nothing there on that. Therefore, as painful as it may be, I have to turn to the competition:

Zaman has a very engaging interview with Yapi Kredi Chief economist Cevdet Akcay. I had summarized his controversial (actually, they are controversial because the absurd has become the norm, the illogical the haute couture in terms of economic thinking in Turkey) views on the Turkish savings rate a month ago. Read the whole thing, but I found most interesting his description of a crisis-prone country, which accidentally fits Turkey really well. In other words, the PM was half right after all: The crisis was supposed to pass Turkey tangent on a theoretical basis, but it ended up as a diameter because of bad policy management.

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