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    WB says Turkey has shock-proof financial system

    Anatolian Agency
    14.10.2008 - 14:43 | Son Güncelleme:

    Turkey has a strong and shock-proof financial system thanks to structural reforms made in the financial sector, President of the World Bank said on Monday.

    Turkey made important and successful initiatives towards stability in its region, said Robert Zoellick in a statement issued on Monday within the frame of World Bank- International Monetary Fund (IMF) autumn meetings.

     

    "Turkey is important for the economic and political stability of its region" he added.

     

    Turkey is expected to utilize World Bank loans worth $6.2 billion in 2008-2011 and according to the World Bank, receives the highest amount of program loans compared to other countries.

     

    Sources told that there was a possibility that Turkey might join the new G-7 countries.

     

    Zoellick recently said that other countries that might join the new G-7 countries were China, India, Russia, Saudi Arabia, Brazil, Mexico and South Africa.

     

    "The new G-7 countries should converge from time to time and try to find solutions to global economic problems in cooperation with the IMF and World Bank," Zoellick earlier said.

     

    Photo: AP

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