DUBAI - State Minister Ali Babacan said on Wednesday that the U.S. Department of Treasury which had sufficient information about Turkish economy would be informed about Turkey's cooperation in Iraq issue by Pentagon.
Babacan, who is currently in Dubai for IMF-World Bank annual meetings, replied to questions of reporters.
Stating that Turkey could use the loan whenever it wanted, Babacan said that before Turkey used the loan, it would write a letter to the U.S. Department of Treasury. He added that after the Treasury Department received the letter, it would act with the information from the U.S. Departments of State and Defense.
He noted that cost of the loan was better than borrowings in the market.
Babacan said that the decision of the Congress did not have a detailed cooperation definition within the scope of cooperation conditions in Iraq of the agreement and stated, ''U.S. Department of Treasury said that cooperation conditions were fulfilled so far. We have some activities on humanitarian aid to Iraq. We want Iraq to reach stability as soon as possible. Economic conditions are going well. We put the decision of the Congress to the agreement.''
Upon a question regarding banking sector in Turkey, Babacan said that banking sector was in a better condition when compared with its situation in 2001 crisis.
When asked whether stand-by agreement with IMF would end in the end of 2004, Babacan said that they would continue to work with IMF after 2004 as well, but in a different format.
Upon a question regarding U.S. finance, Babacan repeated that sending Turkish peace forces to Iraq was not related with this agreement and he said that the U.S. side had been pleased with the cooperation until now.
When asked the date of Investor Council meeting, Babacan said that they had reached a consensus with World Bank President James Wolfensohn that it would be held in spring.
Babacan is expected to attend G-20 Group meeting, which is also including Turkey, between October 21 and 22 in Mexico.
(EÖ-GC-AÖ) 24.09.2003