Moghadam: We Have Reached Compromise On Necessary Steps For Completion Of Eighth Review

ANKARA - International Monetary Fund's (IMF) Turkey Desk Chief Reza Moghadam has said that at the end of their discussions, they had reached compromise on necessary steps for completion of the eighth review, adding that they had reached compromise also on draft letter of intent.
Moghadam told a joint press conference on Tuesday with Turkish State Minister Ali Babacan that IMF delegation's discussions in Ankara had been completed.
Noting that the delegation had had two objectives, Moghadam said that one of them was to hold discussions under the regular Article 4 consultations and the other one was to hold discussions under the eighth review of the stand-by deal.
They had received contributions which pointed a quite detailed, comprehensive and exemplary cooperation from both the Turkish government and non-governmental institutions, Moghadam said.
Moghadam stressed that they had reached an agreement on necessary steps for finalization of the eighth review by the IMF Executive Directors Board.
Noting that they had also reached compromise on draft letter of intent, Moghadam said that the IMF Executive Directors Board was expected to convene in August to finalize the eighth review and Article 4 consultations.
(MS-AÖ) 22.06.2004