ANKARA (AA) - The International Monetary Fund (IMF) Executive Directors Board approved on Wednesday the letter of intent submitted by Turkey, Turkish Treasury said.
Turkish Treasury stated that the IMF had released the first tranche of loan worth 837.5 million USD for Turkey.
According to the new stand-by arrangement between Turkey and the IMF, the Fund will extend about 10 billion USD of loan to Turkey within the following three years.
2005-05-11