Intervention of the IMF of currency crisis

        The International Monetary Fund cut its development standpoint for Turkey and required a broad blend of measures to shield the economy after ongoing business sector disturbance and decreases in the money. With an aim to increase the export of Turkey, the plan focus on the area that can add value and they also emphasized to enhance the production capacity in long rum with an aim to develop new jobs upto 2 million till 2021. Moreover, it is expected that the economic growth would sustain as well in the coming period. However, it is anticipated that till 2021 Turkey will receive a gradual growth increase with 5% (ADEM and VURAN 2018).

        As compare to the other developing countries that Turkey had to face great inflation such as in the period between 2008 to 2017, Turkey inflation rate increased at great extent with a considerable rate of 11.9%. Following this, in the start of the year 2018, the rate of the Turkish currency fall down and reached equal to USD 4 against 1 TRY but following this in March it reached to 4.5, in may it becomes 5 USD and till august it almost doubled and reached to 7USD. According to the economic experts it is believed that the rapid down because of the Erdogan’s change the Central Bank policies as he  introduced some adjustment in the interest rate (Moro and Beker 2015).

        With weight on the lira driving the national bank to raise loan costs and sending swelling to close to the quickest pace since President Recep Tayyip Erdogan came to control 15 years back, the IMF is taking an inexorably diminish perspective of Turkey's prospects. The Washington-based moneylender presently predicts Turkey's gross local yield will develop 3.5 percent this year - not exactly half a year ago's 7.4 percent extension - and just 0.4 percent in 2019. That is down from the IMF's April gauges of 4.2 percent and 4 percent.

        Argentina's President Mauricio Macri has approached the International Monetary Fund for an early arrival of assets from a $50bn arrangement to ease worries that the nation won't have the capacity to meet its obligation commitments for 2019. Macri said in a broadcast address that Argentina had concurred with the IMF "to propel every single fundamental reserve to ensure consistence with one year from now's budgetary program".

        Macri said that in the previous week there had been "articulations of an absence of trust in the business sectors" about Argentina. He said the choice tried to scatter any vulnerability, however he didn't indicate the sum or when the assets would be discharged.

References of Intervention of the IMF of currency crisis 

ADEM, Ali Mohammed, and Bengü VURAN. 2018. "Why Does Turkey Have a Chronic Current Account Deficit? An Emprical Analysis." 8: 104–118.

Aksu, Fuat, and Helin Sari Ertem, . 2017. Analyzing Foreign Policy Crises in Turkey: Conceptual, Theoretical and Practical Discussions. Cambridge Scholars Publishing.

ARI, ALI, and RAIF CERGIBOZAN. 2016. "A Comparison of Currency Crisis Dating Methods: Turkey 1990-2014." 12: 19-37.

Moro, Beniamino, and Victor A. Beker. 2015. Modern Financial Crises: Argentina, United States and Europe . Springer.

Steinberg, David A. 2017. "Interest Group Pressures and Currency Crises: Argentina in Comparative Perspective." 50: 61-82.

Watts, William. 2018. These 7 countries are most at risk of a currency crisis: Nomura. Market Watch.