Ali Babacan’s reaction to power: the borrower takes orders
The president of the DEVA party, Babacan, criticized the government’s economic management with the video he published. Babacan said: “There are hits like doors behind us. What IMF? Turkey needs a strong administration that does its job well, ”and he responded to the IMF’s criticism in the video where he writes the note.
“IT WAS A DEBT RESET FOR THE FIRST TIME IN APPROXIMATELY 30 YEARS”
Babacan’s speech in the video is as follows:
* No need for IMF. I paid the last installment. We will pay, we will take less credit. Thus, we will reduce Turkey’s debt. Because let’s say we pay back $1 billion, instead we borrow $500 million. We paid 500, instead we borrowed 250. I hit the last key, enter key. We have zeroed the debt to the IMF.
* The total size of the economy was 300 billion, and the debt to the IMF was 23.5 billion dollars. This was the first debt reset in almost 30 years, it was very important. Our debt to the International Monetary Fund has been reduced to zero. This country has signed 19 stand-by agreements with the IMF. You know, sometimes they say, ‘Ali Babacan is an IMF member so-and-so.’
“HE BEING A DOOR TO DOOR EXCHANGE”
* The IMF came up to us and said outright, ‘We should do a regular default program.’ We totally reject it. We said there is no such thing. We have zeroed the debt to the IMF. Are IMF experts better than the economic human resources we have now? Sorry, not the old turkey anymore.
* When a country borrows, it does so in the free market within the competition. It is loaned by auction. He says: ‘My brother will borrow money from whoever brings me cheap money.’ Don’t go door to door. “These will work with the IMF,” he says. He is begging SWAP from door to door. We do not know what concessions are offered in exchange for this loan. The borrower receives orders”. PHOENIX