Türkiye sends IMF letter of intent, eyes $3.7 bln

Hurriyet - The Turkish Treasury said Tuesday it had sent a letter of intent to the International Monetary Fund after its last loan review, and expected a tranche of some $3.7 billion to be released. The letter of intent was written after the latest round of review discussions under the stand-by agreement with the IMF. The Treasury added in a statement the IMF Board was expected to debate and approve the review on May 9. The approval of the review will enable Türkiye to draw immediately on an amount of $3.7 billion.