ANKARA - The letter of intent on fifth review which was sent to the International Monetary Fund (IMF) consists of 30 articles.
Sources told the A.A correspondent on Wednesday that IMF executive directors were reading and assessing the letter of intent which was signed by State Minister Ali Babacan and Central Bank Governor Sureyya Serdengecti.
The letter of intent includes parts named; macroeconomic figures, constructive reforms, banking sector, public finance, public sector and private sector and it also covers developments and commitments in those fields.
Constructive commitments concerning the fifth review were completed after the parliament passed the social security laws.
The letter underlined realizations and commitments regarding strengthening of the Banking Regulatory and Supervisory Agency (BRSA) and stressed that all measures would be taken to reach target of 6.5 non-interest surplus of Gross National Product (GNP).
If there was a delay in fulfillment of commitments and other realizations, those would be met during the sixth review which was expected to start at the beginning of November, it noted.
Sources said that IMF Board could approve the letter before beginning of its annual holiday on August 4.
Following approval of the letter of intent, IMF will release a tranche of loan of 500 million U.S. dollars.
(EÖ-AÖ) 30.07.2003