World Bulletin / News Desk
Turkey will clear its remaining $1.3 billion of debt to the International Monetary Fund (IMF) by next April, Prime Minister Tayyip Erdogan told a ruling party congress on Sunday.
In the past the Turkish government relied on IMF loans to meet financial shortfalls, but it has managed to do without the aid since 2008. It has been gradually reducing its debts to the fund, which stood at $1.9 billion in late May.
"We took over $23.5 billion of debt. As of now we have $1.3 billion of debt and we will cut it to zero in April. We are holding technical discussions now," Erdogan told party members at the congress.
Turkey's last standby agreement with the fund was in 2005 and expired in May 2008.
'None of our party members will run for president. Our candidate is Erdogan,' says opposition MHP leader
Fund focuses on projects that strengthen trade, economic and investment ties between Russia and Turkey
Deputy Prime Minister Mehmet Simsek says reform package to improve Turkey's investment climate shines out as first class
Refusal to extradite accused coup-plotters makes Greece complicit in crime, says Turkey's justice minister
We will take step forward to make our political system more powerful, Binali Yildirim tells young members of ruling AK Party
Turkish Foreign Ministry says state of emergency in country is against terrorists
FETO members were convicted for attempting to violate constitutional order at night of July 2016 defeated coup
392 convicts were handed aggravated life sentences since the July 2016 defeated coup
Main opposition CHP Deputy Chair Ozturk Yilmaz says he will be candidate if CHP leader does not become presidential nominee
Lavrov slams comments by US state department aide on Turkish-Russian missile deal as 'blackmail'
Turkish President says it is 'beyond football terrorism' on incidents at Thursday's derby between Fenerbahce and Besiktas
Foreign Ministry criticizes Greek court's decision to release coup plotter and ex-Turkish soldier Suleyman Ozkaynakci
Deputy Premier Recep Akdag meets Turkish Republic of Northern Cyprus Minister of Economy and Energy Ozdil Nami in Ankara
AK Party deputy chairman briefs journalists on upcoming Turkish elections
Parliament's general assembly is expected to debate the bill on Friday
Number of security staff are accused of political spying in 2014 when Recep Tayyip Erdogan was prime minister