DAVOS (AA) - Economy officials said that the letter of intent which will be sent to International Monetary Fund (IMF) was delayed due to national and international holidays.
Officials said that Turkey reached an agreement with IMF about Stand-by before December 17th, 2004; however, required legal arrangements could not be completed due to holidays.
All main topics of the letter of intent were written and only a few articles remained to be filled, noted the officials, adding that the letter will be sent after necessary legal arrangements will be completed.
Officials said that foreign investors and analysts consider Turkey's IMF agreement is over; thus, they do not have any uneasiness about sending the letter of intent. Officials added that the determination in applying the current program is a guarantee for this.
Reminding that structural reforms are necessary not only for the IMF, officials said that Turkey will anyway fulfill these structural reforms as it will start entry talks with the EU.
2005-01-28