{
  "id": "RS20842",
  "type": "CRS Report",
  "typeId": "REPORTS",
  "number": "RS20842",
  "active": false,
  "source": "EveryCRSReport.com",
  "versions": [
    {
      "source": "EveryCRSReport.com",
      "id": 102946,
      "date": "2001-03-13",
      "retrieved": "2016-05-24T20:26:35.583941",
      "title": "Turkey: Financial Crises in Context",
      "summary": "In December 1999, with International Monetary Fund support, Turkey launched a major\neconomic\nreform program intended to cure chronic inflation. Its main elements were a crawling exchange rate\npeg, structural reforms, and privatization. Some progress was made in 2000, but implementation\nwas uneven. A severe liquidity crisis in late November 2000 required a new IMF loan. On February\n22, 2001, after a second crisis, Turkey abandoned the currency peg and, with it, the program. \nAnalysts concur that stabilization, privatization, and banking reform are still needed, but Turkey's\nstatist ideology and divided coalition government may continue to undermine the prospects for \nradical change in economic policy. Neither the government nor individual ministers have taken\nresponsibility for the crises, yet there may be no alternative to the current government under present\ncircumstances. The crises set back Turkey's hope to comply with economic criteria for EU\nmembership. U.S. officials believe that the United States needs a stable Turkey for geopolitical\nreasons and, as a result, the U.S. supports continuing economic reforms. See also  CRS Report RS20253(pdf) ,  Turkey: Continuity and Change after Elections .",
      "type": "CRS Report",
      "typeId": "REPORTS",
      "active": false,
      "formats": [
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          "format": "PDF",
          "encoding": null,
          "url": "http://www.crs.gov/Reports/pdf/RS20842",
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          "filename": "files/20010313_RS20842_56094f23eb677f64b51d1b48e139c099c14b0574.pdf",
          "images": null
        },
        {
          "format": "HTML",
          "filename": "files/20010313_RS20842_56094f23eb677f64b51d1b48e139c099c14b0574.html"
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      ],
      "topics": []
    }
  ],
  "topics": [
    "Foreign Affairs",
    "Middle Eastern Affairs"
  ]
}