10/17/2008

Turkey-IMF to discuss precautionary stand-by, post-program monitoring

Hurriyet English - Turkey and the International Monetary Fund (IMF) are likely to hold talks on post-program monitoring as well as the possibility of a precautionary stand-by agreement during Fund officials’ visit to Ankara. Turkish Economy Minister Mehmet Simsek said Turkey would implement fiscal regulations aiming to enhance the credibility of the budget in line with its medium term fiscal goals, even if did not sign any other agreements with the IMF, the state-run Anatolian Agency (AA) reported. The markets are waiting for the Turkish government to seal a new agreement with the IMF amid global turmoil. IMF agreements and the EU membership process are seen as the key anchors of the Turkish economy.
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