Babacan: We Foresee Period Of Stand-by Arrangement With Imf To Be Three Years

ANKARA - Turkish State Minister Ali Babacan said on Saturday that they foresee the period of stand-by deal with the International Monetary Fund (IMF) to be three years.
Asked about the period of the stand-by deal, Babacan said they worked on a new economic program covering the years 2005, 2006, and 2007.
Babacan said, ''this will at the same time be our Pre-Accession Economic Program which we will give to European Union (EU). This stand-by arrangement will take our three-year program as basis and we foresee the period of the new arrangement to be three years.''
Giving information about the finance dimensions of the stand-by deal, Babacan said they would form a program which suits to the facts of Turkey.
Babacan said they would prepare a program which would take into consideration the views and criticisms of all sections of the society and attaching importance to consensus.'' Babacan also said there would be a very strong political will behind the program.
Babacan said the contents, fundamental approaches and targets of the program were important, noting that, ''this program will have domestic coherence with respect to macro-economic targets and finance balances. We aim to prepare a program having a very strong international support.''
(AY) 07.08.2004