ANKARA/TOKYO/LONDON - After rating institution Standard and Poor's increased Turkey's credit note from B(-) to B, other international institutions that were Japanese JCR and Fitch were also warm to increasing Turkey's credit note.
Yoshihiko Tamura, the Turkey analyst of Japanese rating institution JCR, said they closely covered the developments in Turkey.
Speaking to A.A correspondent, Tamura said there were positive developments in Turkish economy, and that the government took important decisions. He said due to the positive developments, they could exclude Turkey from close monitoring in August, and put it into positive monitoring.
JCR recently had given B (+) to Turkey and announced economic outlook as ''negative''. It took Turkey to close monitoring for a possible reduction of credit note.
Iraq war and uncertainties in economy were influential in attitude of JCR to reduce Turkey's outlook to negative.
Meanwhile, rating institution Fitch is also expected to increase Turkey's outlook to ''positive'' after International Monetary Fund (IMF) approves 5th Review.
Fitch officials said positive developments took place in economic program, and that program was carried out with the IMF. They also stressed that progress could be recorded in fulfillment of macro economic targets.
(AY-AÖ) 04.08.2003