12/26/2008

Turkey making good progress in IMF talks

Reuters - Turkey is making good progress in talks on a new loan deal with the International Monetary Fund, Minister of Economy Mehmet Simsek told state television. "Some aspects of the deal will be decided in a few days, but the remainder will be settled in the new year," Simsek said late on Wednesday. An IMF mission is scheduled to visit the Turkish capital Ankara in early January for talks with Turkish officials. Turkey is expected to sign a regular stand-by or a precautionary stand-by loan deal with the IMF to help it withstand the global financial crisis.