I.M.F. Releases 495 Million U.S. Dollars Of Loan For Turkey

WASHINGTON - International Monetary Fund (IMF) Executive Board released 495 million U.S. dollars of loan for Turkey after completion of the seventh review, IMF sources said on Friday.
A statement of IMF said that IMF Executive Board released 495 million U.S. dollars of loan as a part of the Stand-By agreement with Turkey.
The statement noted that IMF had accepted some exemptions demanded by Turkey.
IMF also agreed to draw a new schedule for the remaining reviews of the program with Turkey, the statement pointed out.
The statement said that IMF prolonged the end of the Stand-By agreement till February 3, 2005.
(BRC) 16.04.2004