ISTANBUL - International Monetary Fund (IMF) delegation, headed by Turkey Desk Chief Reza Moghadam, met with administrators of Banks Association of Turkey on Thursday.
The delegation is currently in Turkey for discussions on the eighth review of the stand-by deal.
The 11-people IMF delegation, including IMF Turkey Representative Odd Per Brekk, met with Ersin Ozince, the Chairman of Banks Association of Turkey and Director General of Isbankasi and Hakan Ates, the board member of the association and Director General of Denizbank.
Officials from Treasury Undersecretariat also attended the meeting.
IMF European One Director and IMF Executive Director Michael Deppler and Willy Kiekens will also visit Turkey.
Deppler and Kiekens are expected to join discussions of Turkish economy officials and IMF delegation between June 7-10.
During these meetings, the sides will also discuss format of new agreement that will replace the 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.
(AY-AÖ) 03.06.2004