6/27/2008

IMF report on Turkey stand-by positive

Hürriyet English - The IMF team described Turkey's performance as ‘positive’ in both stand-up agreements regarding the length, the commitments and the efficient use of the financial assistance, Anatolian Agency reported on Wednesday. A team of IMF economists and analysts have concluded an overview of Turkey's performance in the last two stand-by agreements during a ten-day stay in the Turkish capital, working with Turkish officials from the Treasury Ministry of Finance and the Central Bank. Turkey has not yet decided to sign a new stand-by deal with IMF after the $10 billion IMF loan deal expired in May. Turkey is expected to choose either a precautionary stand-by deal with access to funding or less stringent post-program monitoring with no access to IMF loans. Investors favor another stand-by agreement as it would ensure Turkey sticks to strict fiscal discipline.

ENGLISH