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IMF chair says Turkey’s Erdoğan not eager to seek financial assistance: report

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The head of the International Monetary Fund (IMF), Christine Lagarde, said the fund would be willing to help Turkey if its finances continue to deteriorate but President Recep Tayyip Erdoğan does not appear eager to ask for assistance, the Greek Kathimerini daily reported.

Speaking at the American Enterprise Institute in Washington on the state of the world economy, Lagarde said the country has tiny fiscal space and massive private sector debt, inflation and a dire currency situation.

“I hope the authorities can actually handle the situation. They have a teeny bit of fiscal space, the have a private sector that is massively indebted, they have inflation running high, they have a currency situation which is also pretty dire, and I don’t think that President Erdoğan would actually pick up the phone to ask me whether the IMF can come and help,” she said.

As observers worry about Turkey’s performance in economy, rumors about a possible deal with the IMF have circulated in newsrooms.

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