We Do Not Expect Fiscal Policies To Get Lax In 2008, Samei

ISTANBUL - International Monetary Fund's (IMF) top representative in Turkey said Thursday they did not expect fiscal policies to get lax in Turkey in 2008.
Speaking at the Turkish Business and Investment Summit in Istanbul, Hossein Samei, IMF's Representative in Turkey, said "the inflation rate, higher than expectations, poses a threat to the credibility of monetary policies. The credibility needs to be re-established based on the new inflations targets."
"Turkey completed a program with the IMF a month ago. However, the IMF will continue its presence in and contributions to Turkey," Samei said.
"The Turkish economy made significant progress in many areas. However, problems such as unemployment continue to exist in Turkey," Samei also said.
(SOL-MS)
(ECO)