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    Turkey-IMF discuss cautionary stand-by, official talks on Fri

    HotNewsTurkey with wires
    10.10.2008 - 10:19 | Son Güncelleme: 10.10.2008 - 11:22

    Turkish State Minister Mehmet Simsek discussed the global economic crisis and its potential impact on his country’s economy with the Director of International Monetary Fund (IMF) Managing Director Dominique Strauss-Kahn on Thursday, the news agencies reported. (UPDATED)

    Reuters reported the two also discussed Turkey’s budget for 2009 and the Turkish delegation is expected to start official talks with IMF on Friday. Simsek is in Washington to attend the IMF-World Bank annual meetings.

     

    Turkey reiterated that it does not need any extra foreign financial support as the budget performance showed that macro-economic targets are achievable, and privatization process continues successfully, according to the Anatolian Agency.

     

    The parties exchanged views on a work regarding potential "cautionary stand-by," AA also said.

     

    Turkish delegation stressed that inflation has a downward trend within the scope of the drop in prices of oil and goods, and that it may be below the target.

     

    SIMSEK: G20 CAN SOLVE CRISIS

    Simsek told Strauss-Kahn that G20 group, including Turkey, would be an appropriate platform in solving global economic problems.

     

    Governor of Turkey's Central Bank Durmus Yilmaz, Treasury Undersecretary Ibrahim Canakci and Banking Regulation and Supervision Agency (BDDK) chairman Tevfik Bilgin as well as IMF executives attended the meeting between Simsek and Strauss-Kahn that lasted nearly an hour.

     

    Simsek is scheduled to meet former U.S. Secretary of State Madeline Albright later on Friday and represent Turkey at G20 meeting on Saturday and explain his views during meetings searching for a solution to global financial crisis.

     

    The Boards of Governors of the IMF and the World Bank Group normally meet once a year in the autumn for a plenary session to discuss the work of their respective institutions.

     

    The Annual Meetings are preceded by the ministerial-level meetings of the International Monetary and Financial Committee (IMFC), the IMF's policy-guiding body, and the Development Committee, a joint IMF-World Bank forum.

     

    The Annual Meetings, which generally take place in September-October, have customarily been held in Washington for two consecutive years and in another member country in the third year.

     

    As the Annual Meetings bring such a large number of member country officials together, they provide opportunities for consultations large and small, formal and informal.

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