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Developments:
When I came to Turkey two years ago, nobody I spoke to wanted the IMF's help in rescuing the country's floundering economy. Some feared a repeat of what happened in Argentina, others saw it as a slight on Turkey's ability to look after itself. Today, however, with inflation down from 70% to 9% and the economy growing fast, those same doubters are grateful for the IMF programme. "Argentina was an IMF failure," said one, "but they'll be able to hold Turkey up as a success."
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