Letter Of Intent Regarding Fifth Review Expected To Be Sent To I.M.F. Until Weekend

ANKARA - Letter of Intent regarding the Fifth Review is expected to be sent to International Monetary Fund (IMF) until weekend.
Economy officials said that draft of Letter of Intent regarding the Fifth Review was nearly completed.
Officials said that the details of the letter were nearly completed.
Developments about macro economic targets, finance and monetary policies, financial sector reform and other structural reforms are evaluated and implementation targets of policy in coming months are taken up in the letter in which determination to continue implementation of economic program is expressed.
It was emphasized in the letter that five percent year end growth rate could be reached within the scope of macro economic targets and also 20 percent inflation target could be reached and current transactions deficit would be over the envisioned level.
Turkey will be given loan tranche worth of 500 million U.S. dollars after IMF Executive Directors Board approves the letter.
(GC-AÖ) 09.06.2003