ANKARA - International Monetary Fund (IMF) delegation headed by Turkey Desk Chief Reza Moghadam will start discussions in Ankara on Tuesday.
The delegation arrived in Istanbul on June 2 and has been holding meetings since June 3 with academicians and representatives of finance organizations, business world and other civil organizations.
After completing their meetings in Istanbul, delegation members will proceed to Ankara on Monday and start formal talks on Tuesday.
Meanwhile, IMF European One Director Michael Deppler and IMF Executive Director Willy Kiekens will join talks in Ankara as 8th review discussions of the stand-by deal and IMF's Article 4 consultations will be held simultaneously.
Deppler is expected to stay in Ankara until June 10 and meet with Turkish government officials under the discussions during which also the format of new agreement with the IMF that will replace the existing stand-by deal will come onto the agenda. The current stand-by deal will expire in February 2005.
Meanwhile, IMF delegation headed by Moghadam is expected to stay in Ankara until June 19.
During 8th review discussions, implementation of economic reforms and targets and developments about achievement of primary budget surplus target of 6.5 percent in 2004 will be assessed.
Social security reform, new banking law, privatization, sale of assets of banks managed by the Savings Deposits and Insurance Fund (SDIF), strategy for sale of state banks and developments about privatization will also be discussed.
Under Article 4 consultations, Turkey's medium and long term economic policies will be evaluated.
Meanwhile, IMF Executive Directors Board is expected to convene in August to discuss 8th review and Article 4 consultations.
At the end of this meeting, the board is expected to approve nearly 600 million U.S. dollars loan tranche.
(MS-UK) 06.06.2004