Turkey sends IMF letter of intent, eyes $3.7 bln

Turkey's Treasury said on Tuesday it had sent a letter of intent to the International Monetary Fund after its last loan review, and expected a tranche of some $3.7 billion to be released.

Turkey sends IMF letter of intent, eyes $3.7 bln
It said the IMF board was expected to meet on May 9 to discuss the review.

"The letter of intent was signed and sent to the IMF," the statement from the Turkish Treasury said.

Turkey's $10 billion programme expires on May 10, and Economy Minister Mehmet Simsek had said a new stand-by agreement was not necessary as Turkey no longer needs IMF financing.

Turkey will choose either a precautionary stand-by deal or a post-programme monitoring deal with no access to loans next month.

Last Mod: 01 Mayıs 2008, 10:53
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