IMF warns Turkey over monetary policy

The IMF has urged Turkey to make changes to its monetary policy amid fears that their 5% inflation and credit growth target is below global inflation. A report from the IMF showed a 3.8% growth for Turkey this year, with a predicted 3.5% for next year. However, they also warned Turkey to bring further control measures over its spending. This comes as economist and banker Alan Ruskin described the Turkish Lira as a 'bad apple' due to Turkey's 'exuberant lending' in a world of increasing interest rates.