Posted by meb at February 1st, 2008

Turkey’s debt to the International Monetary Fund (IMF) dropped to 7.1 billion USD by the end of 2007.

According to the public debt management report of the Treasury Undersecretariat, Turkey’s debt to IMF was 10.7 billion USD at the end of 2006.

Turkey used 1.1 billion USD of loan from the fund and repaid 5.9 billion USD in 2007.

Turkey’s debt stock to IMF was around 24.9 billion USD at the end of 2003, 21.5 billion at the end of 2004, and 14.6 billion at the end of 2005.

According to the report, Turkey will pay back 15.5 billion USD of foreign debt in the remaining 11 months of this year.

When the 1.2 billion USD of foreign debt repayment of Turkey in January is taken into consideration, Turkey will have paid 16.7 billion USD by the end of 2008.

source: The New Anatolian

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