Stand-by With IMF Will Be Last Arrangement, Babacan

ISTANBUL (AA) - The three-year stand-by deal expected to be signed by the International Monetary Fund (IMF) within this month will be the last stand-by arrangement to be reached with the Fund, Turkish State Minister Ali Babacan said on Wednesday.
     Making a statement in the magazine named ``Emerging Markets``, Babacan said that Turkey would not need any new arrangement with the IMF from now on.
     Babacan stated that Turkey would maintain its relations with the IMF after the stand-by arrangement was signed, and set the best format for its economy, but would not need IMF`s financial sources.
     The government wanted to assure a lasting economic stability, thanks to structural reforms, added Babacan.
     On the other hand, Babacan is expected to meet Anne Krueger, the First Deputy Managing Director of the International Monetary Fund (IMF) this afternoon. Krueger and Babacan are attending the 38th Annual Meeting of Board of Governors of Asian Development Bank in Turkish commercial hub of Istanbul.
     Sources said that Babacan and Krueger were expected to discuss the new stand-by arrangement.
     IMF Executive Board is expected to discuss this new stand-by arrangement in its meeting due on May 11th.
     (BRC-A֩
2005-05-04