Turkey, IMF to start work on precautionary stand-by deal

IMF's Executive Directors Board is expected to approve the report on "watch after the programe" until August 8.

Turkey, IMF to start work on precautionary stand-by deal
By World Bulletin Staff

Turkey and International Monetary Fund will begin to work on the precautionary stand-by deal after August 8, Turkey's Anatolian News Agency reported on Sunday.

IMF experts have completed the reports on the post-program studies and started its final evaluation on the report.

IMF's Executive Directors Board is expected to approve the report on "watch after the programe" until August 8.

In case a new agreement is not signed with the IMF, the IMF representation in Turkey will be shut down.

Turkey has borrowed $45.8 billion from the IMF since a 2001 financial crisis and was the fund's last major borrower from a string of crises in emerging economies such as Brazil and Argentina.

Turkey has had 19 standby agreements with the IMF since 1961.
Last Mod: 03 Ağustos 2008, 16:50
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