Güncelleme Tarihi:
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led by Lorenzo Giorgianni, had been in
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Separately, a statement from the Treasury in Simsek's name said the delegation had completed talks, focused on
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It said agreement was reached that the Turkish economy was more resistant to shocks.
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"Sustaining fiscal discipline, cautious monetary policy, active liquidity management and structural reforms to maintain improvements in private financing will be important in limiting the impact of global developments on
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There was no mention in the statement of a possible precautionary stand-by deal which will enable
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IMF WARNS FOR RETRENCHMENT OF INFLOWS
The IMF said that the Turkish economy was more resilient than in the past but warned that it would be unavoidably affected by the retrenchment of inflows to emerging markets.
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The discussions were held against the backdrop of heightened risk aversion and financial market turmoil in emerging markets and advanced countries alike, the IMF said in a statement on Thursday.
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The IMF said the mission focused on the implications of global de-leveraging for the Turkish economy and on the appropriate policy responses to minimize disruptive effects.
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"The Turkish economy is more resilient today than in the past, but will unavoidably be affected by the retrenchment of inflows to emerging market countries," Giorgianni said.
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"Buffers in bank and public balance sheets, the flexible exchange rate and greater diversification of export markets have increased
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He said Turkey's monetary policy should continue to aim to bring inflation down to target, and added that central bank's recent moves to enhance its liquidity management toolkit was welcome.
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PM HAD HINTED
Prime Minister Tayyip Erdogan hinted on Tuesday the government may not sign a new loan accord if the global lender exerted excessive constraints on budget spending, tax rates, economic growth and investments.
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Business leaders have called on the government to secure another loan deal to help limit the fallout from the global financial crisis that has already forced
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"If the differences between us (and the IMF) can be overcome a program could come onto the agenda," Reuters quoted Simsek as saying.
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Turkish markets have tumbled this year, with the main share index losing more than half its value, while the lira has weakened as much as a third against the dollar, heightening market calls for action to support the sharply slowing economy.
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