Turkey may sign IMF pact worth $20-40 billion

Bloomberg - Turkey's government may sign an economic agreement with the International Monetary Fund worth between $20 billion and $40 billion, a Turkish official said. Turkey is “close to an agreement on an IMF program,” said Bulent Gedikli, economy chief for the ruling Justice and Development Party, in a telephone interview in Ankara. Turkey may follow economies such as Ukraine, Hungary and Belarus, which are turning to the IMF to bolster investor confidence. Turkey says reforms enacted under previous fund support packages have made it more resistant to crisis.