Posted by meb at April 15th, 2008

The International Monetary Fund (IMF) announced Turkey and the Fund have reached agreement on a package of policies that aim at completing the seventh and final review under Turkey’s stand-by deal with the IMF.

A statement by the Fund said an IMF mission, led by Lorenzo Giorgianni, held discussions with Turkish authorities in Ankara between April 3-10. “Discussions continued during April 11-14, 2008 in Washington, D.C. in the context of the Spring Meetings of the IMF and the World Bank,” it said.

“The mission has reached ad referendum broad agreement with the authorities on a package of policies that aims at completing the seventh and final review under Turkey’s Stand-By Arrangement with the IMF. In the weeks ahead, IMF staff and the authorities will work together to finalize a draft Letter of Intent, with a view to allowing the IMF Executive Board to consider the completion of the seventh and final review under the current Stand-By Arrangement in early May. The completion of this review will enable Turkey to draw an amount of about 3.7 billion USD,” the statement said.

source: The New Anatolian

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