Summers welcomes IMF aid for Turkey

Central Banking staff
06 Dec 2000

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The United States on Wednesday welcomed a $10 billion rescue package agreement between the International Monetary Fund and Turkey, saying that its financial stability was important to the US.

"We look forward to strong and immediate implementation by the Turkish authorities of the steps vital for the restoration of confidence and financial stability," Treasury Secretary Lawrence Summers said in a prepared statement.

The aid consists of $7.5 billion under a special IMF short-term loan facility

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