Untitled

WASHINGTON D.C. - The third and fourth reviews on Turkey may be completed in July, Masood Ahmed, the new Director of the International Monetary Fund (IMF) External Relations Department, said on Friday.
In a press briefing at the IMF HQ in Washington D.C., Ahmed indicated, ''you know the mission was concluded successfully. There was a press statement that was issued at the end of the mission, I think on May 22nd. There is an agreement that the mission reached a referendum with the government. On the Fund side, that agreement now has to be approved by Fund Management and by the Executive Board. On the side of the government, there are few items on the budgetary side and on policy changes which they are planning to implement. Assuming that those steps are taken on the timetable that was discussed with the mission, the Executive Board could meet to consider the completion of both the third and the fourth reviews sometime in July'' .
After the third and fourth reviews are completed, the IMF is expected to release some 1.9 billion USD of loan for Turkey.