IMF: Turkish economy rapidly developing

Guardian.co.uk – The International Monetary Fund chief Dominique Strauss-Kahn was quoted by Turkish newspapers on Sunday as saying that he saw "no need for now" for Turkey to agree on a loan deal with the international lender. "Turkey is a developing economy at the moment but soon it will be a rapidly developed and strong economy. There are no indications that Turkey's economy needs help for now. If Turkey needs IMF’s help in the future, we will be happy to provide that", Strauss-Kahn told Turkish newspapers in Washington on Saturday. Turkey revised its growth and budget targets recently in a three-year plan aimed at restoring investor confidence. The Economy Ministry pledged to return to sustainable growth levels observed before the crisis, while maintaining a downward trend in inflation in the medium-term economic program. Growth in the Turkish economy will accelerate in 2011 after a return to growth in 2010, according to the plan.