IMF Koehler praises Turkey govt, but action needed

Horst Koehler, managing director of the International Monetary Fund, stressed on Dec 21 that the $7.5 billion in new financing the IMF is providing Turkey is a short-term measure to ensure a liquidity crisis in the banking sector doesn't derail wider reforms by the government.

Koehler, in a statement issued late Dec 21, reiterated that the Fund expects the Turkish authorities to maintain their attack on inflation, push ahead with privatizations, confront troubled banks, and liberalize "key goo

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