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Jordan Journal of Applied Science-Humanities Series

DOI

https://doi.org/10.35192/jjoas-h.v22i1.5

Abstract

The study aims to identify the reasons for Turkey's borrowing from the International Monetary Fund and its implications for the country's economic reality. It explains how the AKP managed to pull the country out of its economic crisis and achieve a state of prosperity, ultimately enabling Turkey to pay off its entire debt to the International Monetary Fund in 2013. The study is based on a key assumption: "There is a correlation between the ability of the AKP to extract Turkey from the IMF's predicament and to pay off the entire Turkish debt in 2013, and the economic policies implemented by the party since taking office in 2002 as part of the structural reforms it adopted." For this study, both the career approach and the decision-making approach were employed. The study concluded that the new economic policy adopted by the Justice and Development Party since coming to power, based on a strict economic vision focused on fighting corruption and implementing structural reforms, has resulted in a positive economic reality. This enabled Turkey to pay off its entire debt to the International Monetary Fund in 2013. Therefore, the study recommends that Turkey and countries that have successfully paid off their debts to the IMF should form an economic advisory group to support and guide countries seeking to eliminate their debts to the IMF by providing effective solutions and possible assistance. Turkey and developing countries, especially Arab nations, along with those advocating for the necessity of reforming the IMF Charter, should strive to form a unified front that demands and supports the reduction of the major countries' control over the policies and decisions of the IMF, and pressure for amending the articles of the Fund's Charter.

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© 2025 by the author(s). This is an open-access article distributed under the terms of the CC BY 4.0 Attribution license.