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Turkey sees “3year stand-by deal” with IMF- Economic Minister

Posted on: April 15, 2009


Reuters – Tuesday, April 14

ANKARA, April 13 – Turkey sees a three-year stand-by agreement with the International Monetary Fund to help Ankara weather the global economic crisis, Turkish Economy Minister Mehmet Simsek told Reuters on Monday.

Turkey could meet with IMF delegates within one to two weeks although a date is not yet totally clear, Simsek said.

Pressure for a new deal to replace an accord which expired last May has mounted as the economy slumped in recent months, falling more than 6 percent in the last quarter.

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