I.M.F. To Approve Stand-by Arrangement After January 21

WASHINGTON D.C., Jan 9 (A.A) - The International Monetary Fund (IMF) Executive Directors' Board is expected to approve Turkey's new stand-by arrangement in the week starting on January 21.
IMF sources told the A.A correspondent on Wednesday that Turkey's new letter of intent and IMF delegation's review report were foreseen to be distributed to 24 members of the IMF Executive Directors' Board in coming week.
Sources said that the Executive Directors' Board which is the decision-making organ of the IMF was expected to convene in the week starting on January 21 and officially approve Turkey's new stand-by programme.
The new stand-by deal with the IMF will cover the 2002-2004 period. The stand-by arrangement will be supported by a 16.3 billion U.S. dollars of loan.
IMF sources said that there had not been any problem in process of approval of the new stand-by.