The Turkish economic crisis is the first international economic challenge to confront the Bush Administration.
Turkey plays a pivotal role in advancing U.S. policy goals in the Middle East, Europe, and Eurasia.
America therefore cannot neglect Turkey and should help it to achieve economic stability. The Bush Administration has stated its support for a new policy based on capitalism, not intervention. Turkey should be seen as the first opportunity to implement this policy, which would help set this important U.S. ally on the path toward long-term economic stability and growth. Crisis in Turkey. Considering that all the previous IMF agreements failed to lead Turkey to sustained economic growth, it is not surprising that Turkey is undergoing its second economic crisis in three months.