Many countries will go down, but Turkey will rise
Global Investor Jim Rogers, made comments on 2010 in an interview with The Turkish Sabah daily. Rogers said many countries and companies would go bankrupt in 2010, however, Turkey's future was bright. He said more crises were expected in the foreign exchange market this year, but based on the current conjuncture, Turkey would have a better future than many countries. Rogers also said that holding talks with the International Monetary Fund was nothing but loss of time.
Jim Rogers : “We will see many bankruptcies this year, however; Turkey’s future is bright.”
Jim Rogers, an investor well-known for determining the course of the global market, told SABAH about his predictions for 2010. “We may witness an increased number of bankruptcies experienced by both companies and nations. There may also be further crisis experienced in the foreign exchange market. At this conjuncture, Turkey appears to have a much more positive future than a number of other nations. An agreement with the IMF is nothing more than a waste of time.”Rogers went on to state that he does not believe an IMF agreement is the way to go and suggests Turkey find other sources to acquire funds.
According to Jim Rogers, Turkey is in a much better situation than a number of other countries. Rogers did offer his suggestion for Turkey, following the indefiniteness surrounding the establishment of an IMF agreement embarked upon since 2008. According to Rogers, the ongoing deliberations on a loan agreement have been ‘a complete waste of time.’
“Applying to the IMF for a loan is nothing more than a waste of time. What I have just said is just as valid for other countries as it is for Turkey.” Rogers states that the problems that may be surpassed by taking out an IMF loan will only come back as problems in a few years’ time. Rogers suggests that Turkey approach alternative methods if the nation needs funds, stating it will be healthier, and pointed to countries such as China and Japan as options, which are economic giants on the rise.
Source Sabah and Turkish Press
