Turkey to forego one billion dollars in US aid

ANKARA - Turkey's economy has improved to the point where it can forego a billion dollars in US aid, the national treasury said Friday.
"In the most recent period, the Turkish economy has posted better than expected results and sustainable growth has taken root," the treasury said in a statement.
Given that trend, "we have emphasized during contacts with US authorities that we no longer consider the use of this kind of financing necessary."
On September 22, 2003, the United States pledged a billion dollars to Turkey to underpin economic reforms and compensate negative effects from the US invasion of neighboring Iraq.
On Friday, the World Bank's representative to Turkey hailed the treasury statement, saying it showed "to what extent the Turkish economy is healthy".
Bank official Andrew Vorkink added: "Turkey does not need this gift. This is a sign of growing confidence in the Turkish economy."

03/04/2005 11:51 GMT