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.
Russian President Vladimir Putin’s upcoming visit to Turkey on Dec. 1 has been upgraded to the highest level, the Kremilin has said
Turkey’s Treasury plans to pay back 33.1 billion liras of domestic debt, including 3.6 billion liras of foreign debt between December and February
The inflation rate in Turkey for November is expected to increase by about 0.26 percent compared with October, a survey reveals
Turkish President criticized world governments' lack of sensitivity towards the Esad regimes' attacks, the Pope spoke of the needs for interfaith dialogue.
A Turkish suspect involved in the Nov. 21 murder of a Serbian basketball fan in Istanbul has been jailed, while six other suspects have been released
Agreement to be signed on Monday to eliminate trade barriers between the two countries.
News coverage ban on parliamentary investigation of four former Turkish ministers over graft allegations upheld by court.
Turkic countries among the most promising markets for MPT-76, Istanbul businessmen's meeting hears
No casualties reported as firefighters tackle blaze on European side of the city.
Prime Minister Davutoglu announces details of protective and preventive efforts to raise public awareness against drugs
The 77-year-old pontiff faces challenges at home and abroad as he visits Muslim-majority Turkey
Turkey’s Undersecretary for Defense Industries says creating global brands and adding value-added products are strategic.
MHP leader Devlet Bahceli sparked controversy with 'terrorist' remarks over 1937 massacre of Alevi people in Dersim province.
Country's deficit narrows to $6.2 billion after a significant rise in exports, while imports slips.
Hadi al-Bahra was elected the Syrian National Coalition's new president in July.
Friday’s newspapers cover Pope Francis' visit to Turkey on Nov. 28-30, and Turkish president’s remarks on the "unity of the Muslim world."