IN: Benjamin Henry Boneval Latrobe (May 1, 1764 - September 3, 1820) was a British subject and neoclassical architect who emigrated to the United States. He was one of the first formally trained, professional architects in the new United States, drawing on influences from his travels in Italy, as well as British and French Neoclassical architects such as Claude Nicolas Ledoux. In his thirties, he emigrated to the new United States and designed the United States Capitol, on "Capitol Hill" in Washington, D.C., as well as the Old Baltimore Cathedral or The Baltimore Basilica, (later renamed the Basilica of the National Shrine of the Assumption of the Blessed Virgin Mary). It is the first Roman Catholic Cathedral constructed in the United States.

Latrobe returned to England in 1784, and was apprenticed to John Smeaton, an engineer known for designing Eddystone Lighthouse. Then in 1787 or 1788, he worked in the office of neoclassical architect Samuel Pepys Cockerell for a brief time. In 1790, Latrobe was appointed Surveyor of the Public Offices in London, and established his own private practice in 1791. Latrobe was commissioned in 1792 to design Hammerwood Park, near East Grinstead in Sussex, his first independent work, and he designed nearby Ashdown House in 1793. Latrobe was involved in construction of the Basingstoke Canal in Surrey, together with engineers John Smeaton and William Jessop. In spring 1793, Latrobe was hired to plan improvements to the River Blackwater from Maldon to Beeleigh, so that the port of Maldon could compete with the Chelmer and Blackwater Navigation, which bypassed the town. The project lasted until early 1795, when Parliament denied approval of his plan. Latrobe had problems getting payment for his work on the project, and faced bankruptcy.  In February 1790, Latrobe married Lydia Sellon, and they lived a busy social life in London. The couple had a daughter (Lydia Sellon Latrobe) and a son (Henry Sellon Boneval Latrobe), before she died giving birth during November 1793. Lydia had inherited her father's wealth, which in turn was to be left to the children through a trust with the children's uncles, but never ended up going to the children. In 1795, Latrobe suffered a breakdown and decided to emigrate to America, departing on November 25 aboard the Eliza.  In America, Latrobe was known for his series of topological and landscape watercolors; the series started with a view of the White Cliffs of the south coast of England viewed from the Eliza. The series was preceded by a watercolor of East Grinstead, dated September 8, 1795.

Did he avoid bankrucy?

OUT: 


IN: Recep Tayyip Erdogan (Turkish pronunciation: [re'dZep taj'jip 'aerdo(W)an] ( listen); born 26 February 1954) is a Turkish politician serving as the current President of Turkey, holding the position since 2014. He previously served as Prime Minister from 2003 to 2014 and as Mayor of Istanbul from 1994 to 1998. He founded the Justice and Development Party (AKP) in 2001, leading it to general election victories in 2002, 2007 and 2011 before standing down upon his election as President in 2014.

In 2002, Erdogan inherited a Turkish economy that was beginning to recover from a recession as a result of reforms implemented by Kemal Dervis. Erdogan supported Finance Minister Ali Babacan in enforcing macro-economic policies. Erdogan tried to attract more foreign investors to Turkey and lifted many government regulations. The cash-flow into the Turkish economy between 2002 and 2012 caused a growth of 64% in real GDP and a 43% increase in GDP per capita; considerably higher numbers were commonly advertised but these did not account for the inflation of the US dollar between 2002 and 2012. The average annual growth in GDP per capita was 3.6%. The growth in real GDP between 2002 and 2012 was higher than the values from developed countries, but was close to average when developing countries are also taken into account. The ranking of the Turkish economy in terms of GDP moved slightly from 17 to 16 during this decade. A major consequence of the policies between 2002 and 2012 was the widening of the current account deficit from 600 million USD to 58 billion USD (2013 est.)  Since 1961, Turkey has signed 19 IMF loan accords. Erdogan's government satisfied the budgetary and market requirements of the two during his administration and received every loan installment, the only time any Turkish government has done so. Erdogan inherited a debt of $23.5 billion to the IMF, which was reduced to $0.9 billion in 2012. He decided not to sign a new deal. Turkey's debt to the IMF was thus declared to be completely paid and he announced that the IMF could borrow from Turkey. In 2010, five-year credit default swaps for Turkey's sovereign debt were trading at a record low of 1.17%, below those of nine EU member countries and Russia. In 2002, the Turkish Central Bank had $26.5 billion in reserves. This amount reached $92.2 billion in 2011. During Erdogan's leadership, inflation fell from 32% to 9.0% in 2004. Since then, Turkish inflation has continued to fluctuate around 9% and is still one of the highest inflation rates in the world. The Turkish public debt as a percentage of annual GDP declined from 74% in 2002 to 39% in 2009. In 2012, Turkey had a lower ratio of public debt to GDP than 21 of 27 members of the European Union and a lower budget deficit to GDP ratio than 23 of them.  In 2003, Erdogan's government pushed through the Labor Act, a comprehensive reform of Turkey's labor laws. The law greatly expanded the rights of employees, establishing a 45-hour workweek and limiting overtime work to 270 hours a year, provided legal protection against discrimination due to sex, religion, or political affiliation, prohibited discrimination between permanent and temporary workers, entitled employees terminated without "valid cause" to compensation, and mandated written contracts for employment arrangements lasting a year or more.

What has been an important turning point in the economy?

OUT:
Turkey's debt to the IMF was thus declared to be completely paid and he announced that the IMF could borrow from Turkey.