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    IMF: You Succeeded !

    Hürriyet Haber
    16.10.2003 - 00:00 | Son Güncelleme:

    IMF Turkey Desk Chief Reza Moghadam said that the program implemented by the government was very successful and that the results of it were above expectations. In the press conference, which he held jointly with State Minister Ali Babacan, Moghadam said that the 6th review talks were concluded and the IMF mission agreed with the economy administration regarding the steps that should be taken. Moghadam stressed that the agreement would be submitted to the approval of first the administration of IMF, and then the Board of Executive Directors. Moghadam said that the policies of the Central Bank, which are strong and have high credibility, might pave the way for lower rates of inflation than expected. Moghadam drew attention to the fact that interest rates fell to a great extent, when compared to the last review.THREE EXPECTATIONSMoghadam said that they concentrated especially on three policies. He said; the first one is to attain 6.5% primary surplus target in the 2003 budget. We agreed on the measures that should be taken to materialize this target in 2003 and 2004. We expect that a budget on this agreement will be forwarded to Parliament this week. Other expectations of IMF are enhancing the influence of the Banking Regulating Board (BDDK) and issuing the Law on Public Financial Administration.
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