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    Turkey-IMF to discuss precautionary stand-by, post-program monitoring

    HotNewsTurkey with wires
    15.10.2008 - 08:41 | Son Güncelleme: 15.10.2008 - 13:37

    Turkey and the International Monetary Fund (IMF) are likely to hold talks on post-program monitoring as well as the possibility of a precautionary stand-by agreement when Fund officials visit Ankara in thisweek. (UPDATED)

    Turkish Economy Minister Mehmet Simsek told reporters in New York late on Tuesday technical studies regarding a precautionary arrangement started back in August, adding that Turkey has not made any arrangements with the IMF aside from the post-program monitoring which is still in effect.

     

    Simsek said Turkey would implement fiscal regulations aiming to enhance the credibility of the budget in line with its medium term fiscal goals, even if did not sign any other agreements with the IMF, the state-run Anatolian Agency (AA) reported.

     

    A delegation from the IMF, headed by Turkey Desk Chief Lorenzo Giorgianni, is set to arrive in the Turkish capital, Ankara, on Wednesday, the AA also reported, adding that the delegation would begin talks on Thursday as part of the post-program monitoring activities.

     

    The markets are anxiously waiting for the Turkish government to seal a new agreement with the IMF amid global turmoil. IMF agreements and the EU membership process are seen as the key anchors of the Turkish economy.

     

    Turkey's last 10 billion dollar-stand-by deal expired in May and the government is yet to decide on the new form of relations with the IMF.

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