Although Turkey’s vulnerabilities remain high, they can be solved domestically if the right policies are put in place, Donal McGettigan, the IMF’s mission chief to Turkey has said, suggesting the country could overcome its economic challenges without IMF help.

According to McGettigan, Turkey now has an opportunity to put in place additional reforms that would address remaining vulnerabilities, strengthen policy credibility, and set the economy on a higher and more sustainable growth path.

“Turkey has a history of resilience,” he said.

Read more: IMF: Turkey's economic challenges could be solved domestically