ANKARA - International Monetary Fund (IMF) delegation headed by Turkey Desk Chief Reza Moghadam will come to Turkey on June 3 for discussion on the eighth review of the IMF-backed economic program.
Sources said on Friday that the delegation would firstly meet with business and finance circles in Istanbul.
Following those meetings, IMF delegation would proceed to Ankara to hold meetings at the Treasury Undersecretariat, Finance Ministry, Banking Regulatory and Supervisory Agency (BRSA), Central Bank and State Planning Organization (DPT) and relevant ministers.
Meanwhile, IMF European One Director and IMF Executive Director Michael Deppler and Willy Kiekens will also come to Turkey.
Deppler and Kiekens are expected to come to Ankara and meet with government officials on June 6.
During these meetings, the sides will also discuss format of new agreement that will be replaced with existing stand-by deal that will end in February 2004. Also maturity of new agreement is expected to be discussed during these meetings.
The sides decided to decrease the number of reviews to three. Earlier, four reviews were envisaged to be held.
New agreement with the IMF that is expected to come onto the agenda will be selected among three options such as ''post-program monitoring, precautionary stand-by or normal stand-by deal''.
Under new agreement, nearly 660 million U.S. dollars of loan tranches will be approved instead of 500 million U.S. dollars of loan tranches.
(MS-AÖ) 28.05.2004