New Turkish cbank law submitted to cabinet

TURKEY - A draft law that grants full independence to the Central Bank of Turkey, and brings E.U. standards to the bank, has been submitted to the cabinet, reports the the Turkish daily Milliyet. The law is one of the key structural reforms required for the new IMF-backed economic program.

Sureyya Serdengecti, governor of the central bank, said on Mar 19 that the new law will make the primary objective of the central bank price stability. He said the draft will also include the establishment

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