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.
During a phone call, the two leaders agreed that all countries and specifically the European Union should take the necessary steps to tackle the crisis.
Mandate, extended for another year, authorizes armed forces to carry out military operations against "terrorist treats" in Syria and Iraq
Turkey's president accused Europe of not doing its part to help share burden of refugees
Two British journalists were detained by Turkish security forces for allegedly having links to 'terrorist organization'
Turkish embassy in South Africa uses Victory Day celebrations in Pretoria to showcase country’s defense industry
Gut-wrenching photo of drowned Syrian boy washed up on beach in southern Turkey moves Turkish dailies Thursday
Two police injured and a third is in critical condition after they were attacked by a rocket in eastern Turkey
National Security Council statement calls for safety zone to resolve refugee crisis
General Assembly to hold extraordinary session Thursday to discuss motion to extend military mandate in Iraq and Syria
Turkish dailies cover police raid on Koza Ipek Holding, suspected of providing financial support to 'Gulenist Terror Organization'
Two F-16 jets destroyed PKK firing positions in area after one soldier was killed and two were wounded
Turkey and Iraq have launched a joint investigation to examine those responsible for the kidnap of 18 workers from Baghdad
Members of Kurdistan Workers’ Party (PKK) which is designated as a terrorist group, are believed to be behind the attack
Agency provides assistance to poor, victims of disasters, refugees from Syria whose numbers have swelled to about 2.5 million
EU calls for 'independent and transparent investigation' on two British journalists
Tuesday's dailies mainly cover the new rewards offered to those in Turkey who provide information regarding terrorists