Preparation Of Draft Letter Of Intent Completed

ANKARA (A.A) - 19.07.2002 - Preparation of draft letter of intent that will be submitted to the International Monetary Fund (IMF) Executive Directors Board was completed.
Sources said on Friday that the letter of intent covered the commitments that have been fulfilled under the IMF's third review and the measures that will be taken.
The letter also stressed that the economic programme will be fully implemented in spite of all kinds of political developments.
IMF delegation headed by IMF's Turkey Desk Chief Juha Kahkonen is expected to hold a press meeting at the beginning of next week.
Following discussion and approval of the new letter of intent by the IMF Executive Directors Board early in August, the IMF is expected to approve nearly 1.1 billion U.S. dollars of tranche of loan to Turkey.
After the review in October, the IMF will release nearly 1.5 billion U.S. dollars of last tranche of loan in this year.