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The European Union has given up two of its seats on the board in order that they be given to emerging markets and Turkey is a favourite to become one of those emerging markets, according to IMF chief Dominic Straus-Kahn.
Speaking at the recent G20 meeting in South Korea, Straus-Kahn, IMF Managing director said that the EU's decision was a wise one, and that Turkey was a strong candidate to take one of the seats.
“I think Turkey is the most suitable candidate for a post on the executive board”, said Kahn, while his views on Turkey's membership were shared by many.
The IMF head went on to assess Turkey's recent economic performance, highlighting the 7.5-8 percent growth. "I think the government is managing the economy very well", said Strauss-Kahn.
Turkey continues to move forward in leaps and bounds. This week saw Turkstat reveal that while Turkish exports saw a very respectable 5% growth in the year to end September, that imports were by far the leader with 25% growth.
While this has pushed up the trade deficit, it does point to strong growth in domestic demand within Turkey, which has been cited many times as vital to the future growth and health of the Turkish economy.
News like this continues to make increase the appeal of property in Turkey with investors from around the world. This week also saw Bloomberg run a feature on the current activity in the Istanbul propertymarket, as developers race to convert historic buildings into lucrative investments.
