This post already appeared in Hurriyet Daily News this week; Roubini Global Economics Emerging Markets EconoMonitor is just republishing it, but I just wanted to cross-link for the readers who might have missed it the first time around...
There is also an large addendum in the blog, which includes some additional points as well as a link to Ferhan's presentation. And if you are interested, Sumru Altug has put her comments on the IMF paper and Ferhan's presentation into a neat little ERF policy note- unfortunately, it is in Turkish...
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