IMF Managing Director Issues Statement on Turkey

Turkey has finally fulfilled the conditions for obtaining its latest loan tranche from the IMF. The letter of intent sets out further reforms aimed at fixing shaky public finances and transforming the state dominated economy into a free market system.

Mr. Horst Kohler, the Managing Director of the International Monetary Fund (IMF), today issued the following statement after the signing by the Turkish authorities of their Letter of Intent:

"The IMF welcomes the Turkish government's signing of a new

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