I.M.F. Executive Board Is Expected To Decide About Completion Of Fifth Review In Second Half Of June

ANKARA - The Treasury Undersecretariat stated on Friday that the International Monetary Fund (IMF) Executive Board was expected to decide about completion of the fifth review in the second half of June.
A statement of the Treasury Undersecretariat said that the meetings between the IMF delegation and officials of government, public institutions and representatives of private sector which were started on May 20 had been completed.
The statement noted that significant progress had been recorded in the work on the draft letter of intent during the talks.
Significant betterment had been recorded in macro economic and financial indicators as the economic program was continued without any deficiencies, the statement said.
The statement pointed out that it was observed that the indicators were in line with the targets listed in the program.
The economy had a structure resistant against shocks, the statement emphasized.
The statement said that it was thought that there was no need for a comprehensive change on macro economic targets and within that framework, the year-end growth rate target of 5 percent and inflation rate target of 20 percent could be achieved.
''To maintain the atmosphere of confidence and decrease the interest rates as foreseen, determined implementation of strong policies in especially public finance and acceleration of structural reform program are of vital importance,'' the statement noted.
The statement added, ''the draft letter of intent, on the outline of which we have reached a compromise with the IMF delegation, can be submitted to the IMF Executive Board after the developments to be recorded in structural reforms especially within the scope of the program.''
(BRC) 30.05.2003