Dervis: Political Changes In Turkey Won't Affect Much The Basic Economic Structure

WASHINGTON D.C. (A.A) - 25.04.2002 - State Minister Kemal Dervis said on Thursday that majority of the economic reforms in Turkey can't be overturned anymore, adding ''political changes, election and debate on election won't affect the economic structure in the country too much.''
Responding to questions of journalists after signing the credit agreement with World Bank Vice President Johannes Lynn, Dervis said that the independent policies of Central Bank would continue. Everybody understood the importance of financial policies, he said.
Dervis said that the recent report of IMF talked positively about Turkish economy, noting the report stressed that the financial crisis in the country ended. Yet the problems didn't end, said Dervis and noted that structural reforms should continue to reach 6-7 percent sustainable growth. Dervis reiterated that Turkey can reach its targets of 3 percent of economic growth and 35 percent of inflation. Dervis stressed that foreign investments have to be undertaken in Turkey.
''The floating foreign exchange rate will be balanced in time,'' Dervis said stressing that the speculations on the exchange rate is dangerous.
Dervis said that he met with U.S. Secretary of Treasury Paul O'Neill and Undersecretary for International Affairs Treasury John Taylor in Washington, adding that he would meet with U.S. Federal Reserve Chairman Alan Greenspan the same day.