Balance of Payments

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Reflections on the February 2001 Turkish
Crisis Lessons from a Central Bankers
Perspective Opening Lecture by Mr. Süreyya
Serdengeçti Governor of the Central Bank of the
Republic of Turkey erc/METU International
Conference in Economics VI Ankara, September 11,
2002
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Table 1. Main Empirical Regularities
ofStabilization Programs
Central Bank of the Republic of Turkey
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Figure 1. Evolution of Capital Flows(US
million, 12-month cumulative)
Central Bank of the Republic of Turkey
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Figure 2. Growth Rate of Loans (percent,
year-on-year)
Figure 3. Share of Consumer Loans in Total
(percent)
Central Bank of the Republic of Turkey
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Figure 4. Evolution of the Current Account
Figure 5. Growth Rate of Consumption Goods
Imports(percent, year-on-year)
Central Bank of the Republic of Turkey
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Figure 6. Key Indicators of the Banking Sector
Vulnerabilities
Central Bank of the Republic of Turkey
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Figure 7. Evolution of the Terms of Trade
(percent change)
Central Bank of the Republic of Turkey
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Figure 8. CBRT Interest Rate Quotations at the
Money Markets (average, compound)
Central Bank of the Republic of Turkey
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Figure 9. Liquidity Support Operation for Public
and SDIF Banks
Central Bank of the Republic of Turkey
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Table 2. Liquidity Support OperationSources of
O/N Borrowing (TL quadrillion)
Central Bank of the Republic of Turkey
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Figure 10. Total CBRT Support to Public and SDIF
Banks (Outstanding RepoOutright Purchase, TL
trillion)
Central Bank of the Republic of Turkey
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Figure 11. CBRT F/X Interventions and TL/US Rate
Central Bank of the Republic of Turkey
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Figure 12. Outstanding Repo-Reverse
RepoInterbank Withdrawals (TL trillion)
Central Bank of the Republic of Turkey
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Table 3. Debt Swap Operation
Central Bank of the Republic of Turkey
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Reflections on the February 2001 Turkish
Crisis Lessons from a Central Bankers
Perspective Opening Lecture by Mr. Süreyya
Serdengeçti Governor of the Central Bank of the
Republic of Turkey erc/METU International
Conference in Economics VI Ankara, September 11,
2002