Babacan says IMF not credibility factor for Turkey anymore

Babacan estimated a national income of USD 650 billion and a total debt of approximately USD 350 billion.

Babacan says IMF not credibility factor for Turkey anymore

Turkish Deputy Premier Ali Babacan estimated a national income of USD 650 billion and a total debt of approximately USD 350 billion adding that exact figures would be made public on March 31st.

Babacan who spoke on the performance of the Turkish economy at a programme on the state owned TRT Channel, said foreign experts agreed that Turkey did not feel the negative effects of the global financial crisis adding that foreign expectations about Turkey was positive.

Commenting on the talks with IMF Babacan said IMF was not the primary credibility factor for Turkey anymore.

"We have managed to become our own credibility factor," said Babacan.

He said Turkey emerged from the global financial crisis as an economy capable of standing on its own feet.

Babacan said experts agreed that Turkey did not need the IMF anymore.

He said the only reason why they still talked to the IMF was because it provided loans at an interest rate lower than the market average.

Babacan pointed out that IMF did not impose additional conditions to their government, adding that it only expected from Turkey to stick to its own mid-term program.

Babacan said they had to make minor changes in their mid-term economic program in the light of current developments and IMF was currently examining these changes.

He said time would show whether or not IMF would agree with these minor changes.


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Last Mod: 15 Şubat 2010, 11:19
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