5/20/2008

Turkey to invite IMF for post-program assessments

Hurriyet - Turkey plans to invite an IMF delegation to undertake final evaluations after the stand-by agreement expired on May 10, the economy minister said. "I am going to invite the IMF delegation for the final post-programme evaluations. This is required only for (IMF's) internal arrangements. The Fund monitors countries that accessed large amounts of its resources over a long period. After that if we, as the government, make a decision to continue with a precautionary stand-by than we will invite the IMF delegation separately," Simsek added. A precautionary stand-by arrangement allows a fair degree of IMF oversight of fiscal policy but it provides financing only in emergencies, unlike the expired agreement, where the $10 billion was guaranteed.

ENGLISH