Turk PM says IMF reforms cut too much state power

Central Banking staff
28 Mar 2002

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TURKEY - Turkish Prime Minister Bulent Ecevit said on Wednesday some IMF-backed reforms may have cut state power too much and crisis-hit Turkey's priority must be a return to elusive growth.

A financial crisis broke in February 2001 devastating Turkey's economy, costing thousands of jobs, halving the value of the lira currency, swelling the country's domestic debt load and sparking the worst recession since 1945.

"Growth is the right of the Turkish nation. The Turkish nation brims over with

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