Deppler And Kiekens Finalize Discussions Under Article 4

ANKARA - International Monetary Fund (IMF) European One Director Michael Deppler and Executive Director Willy Kiekens have completed their discussions in Ankara under Article 4 consultations while IMF delegation headed by Turkey Desk Chief Reza Moghadam will stay in Ankara until June 19.
Sources said on Friday that IMF delegation headed by Moghadam would intensify on discussions under the eighth review of the stand-by deal.
IMF delegation members who will continue meetings mainly at the Turkish Treasury today and at the weekend will discuss necessary measures to secure 6.5 percent primary budget surplus target, social security reform, new banking law, privatization, sale of Savings Deposits Insurance Fund (SDIF)-controlled banks' assets and sales strategies for state banks.
The eighth review is expected to be finalized and approved by the IMF Executive Directors Board in early August at the latest.
Following finalization of the eighth review, the IMF will approve nearly 660 million U.S. dollars tranche of loan.
(MS-AÖ) 11.06.2004