NEW YORK - A senior Turkish official briefed foreign investors on Turkey`s reform map and recent macro economic developments in a series of meetings held in New York on Tuesday morning.
State Minister Mehmet Simsek, who arrived in New York following talks with International Monetary Fund (IMF) in Washington, told AA that they were aiming at reducing the risk premium and borrowing costs through meetings with foreign investors and credit rating agencies.
Simsek said he would meet high-level officials from leading credit rating agencies like Moody`s and Standart & Poors on Tuesday afternoon.
"Turkey is a rapidly growing country. Rapidly growing countries need large funding. In Turkey, savings ratings are low; therefore dialogue with foreign investors is beneficial for Turkey," Simsek said.
Before coming to New York, Simsek announced in Washington on Monday that Turkey and IMF had reached an overall consensus and that the stand-by arrangement with the IMF would continue till May 10th.
"After this, `Post-Program Monitoring` will start automatically. Talks may take place for "Cautionary Stand-by" if necessary, and the dialogue will get deepen," he was quoted as saying.
(OZG-GC)