1.   If the International Monetary Fund gave grades to its major borrower nations, Turkey and Argentina probably would have received mostly As this year.

2.   To receive IMF loans, the borrower nation is expected to change national economic policies, such as by devaluing currency or reducing its deficit to reduce inflation.

3.   Higher interest rates mean higher debt repayments for borrower nations.

4.   But the scheme, which proposed that a borrower nation could draw ogged by various roadblocks.