ANKARA - Turkey sent the letter of intent on the seventh review with the International Monetary Fund (IMF) to the Fund administration, Turkish State Minister Ali Babacan said on Friday.
Babacan said that Turkey expected IMF Executive Board to convene and complete the seventh review with Turkey in mid-April.
Around 500 million U.S. dollars of loan would be released for Turkey at the end of the seventh review, Babacan stated.
Babacan recalled that talks on the seventh review had been completed on March 13.
Turkey and IMF delegation had discussed macro-economic, growth rate and inflation rate targets for 2004 in their meetings, Babacan said.
Babacan pointed out that Turkey was expected to achieve primary surplus target in 2004 thanks to measures put into practice in field of public finance.
Turkey and IMF would have three more reviews till the end of 2004, Babacan added.
(BRC) 02.04.2004