I.M.F.'s Turkey Desk Chief Says Turkey Over-achieved In Some Key Respects

LONDON - IMF`s Turkey Desk Chief said Turkey had over-achieved in some key respects.
Lorenzo Giorgianni, Turkey Desk Chief of IMF, said in a telephone interview with the Financial Times that the country had over-achieved in some key respects, given that some targets - such as growth in gross domestic product, public finances, debt ratios and reserves - were all above the initial targets.
Giorgianni said Turkey should make a speedy decision on which programme would replace the stand-by agreement which expired between Turkey and the IMF at the weekend.
"There was a lot of hard work, a lot of it behind the scenes, by government and central bank officials, to make this work," Giorgianni said.
He said whatever programme replaced the 10 billion USD agreement should be "home grown".
"To the extent that it [no decision] increases the uncertainty among investors, a decision would be better sooner than later," Giorgianni said.
(EÖ-AÖ)