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.
EU Commission releases its first report on the progress Turkey has made towards lifting visa obligations for Turkish citizens
Series of deaths come amid pro-Kurdish protests around country
Press TV journalist dies after her car crashed into a construction vehicle near the border
Turkish Foreign Minister said that Turkey was facilitating the passage of Iraqi Kurdish peshmerga fighters to Kobani to aid Syrian Kurds
'If oil prices continue to decrease over the next year, Turkey's budget deficit will fall by 10 percent,' says energy min
Monday's papers covered a meeting on the "solution process" between the Turkish government and the 'wise men' delegation of experts
The Turkish Central Bank has disclosed that the private sector has seen its long-term foreign debt increase to $166.2 billion since December
12 countries along with host Turkey will gather in Istanbul for four days of military drills on Oct. 20
The Turkish president has appreciated the “Wise Men Committee” for its role in the settlement process with the outlawed Kurdistan Workers’ Party
Turkey has welcomed the finalization of Iraq's cabinet and termed it "an important step of an inclusive political beginning"
The leaders discussed the situation in Kobani, along with steps to fight the advance of ISIL militants.
Davutoglu describes Turkey's Kurdish solution process as a national and unique project that must be protected from 'foreign hands'
Medical team at Kapikule on Turkey-Bulgaria border trained and equipped to deal with the deadly disease, Governor of Edirne border province says
The Turkish president says his country will continue to mediate between Afghanistan and Pakistan; and the Turkish troops established a peaceful environment in Afghanistan just like it did in Kosovo, Bosnia and Somalia
John Bass, who was sworn in as the new US Ambassador to Turkey on October 7, says Turkey and the US are "long-time friends and strategic partners"
Republican People's Party says Istanbul prosecutor's decision to drop 'December 17' case shows 'justice has stopped' in Turkey