ANKARA - International Monetary Fund (IMF) delegation headed by Turkey Desk Chief Juha Kahkonen started on Monday their contacts in Istanbul under the fourth review.
Sources said that some IMF experts would have contacts in Istanbul while other IMF officials would hold meetings in Ankara.
IMF experts will meet with Turkish Exporters Assembly (TIM), Turkish Banks Union (TBB), Foreign Capital Association (YASED) and some other real sector and banking sector officials in Istanbul.
Meanwhile, Kahkonen who is expected to proceed from Istanbul to Ankara on Tuesday is expected to start his contacts in Ankara on Wednesday.
Meanwhile, other experts from the IMF technical delegation started their contacts in Ankara.
Talks in Ankara will be held at the Treasury Undersecretariat, Finance Ministry, State Planning Organization, Central Bank, Banking Regulation and Supervision Agency, state banks and Privatization Board.
Issues like inflation, growth and non-interest surplus will be discussed with the IMF delegation that will stay in Turkey until Christmas.
At the meetings, 2003 year temporary budget, growth rate and non-interest surplus will be tread to be set by taking 2002 year budget and macro economic figures into consideration.
Review talks are expected to be finalized after the works with IMF technical delegation that will visit Turkey again early in January and the letter of intent which will be reviewed due to change in macro economic targets is expected to be presented to the IMF Executive Directors in January.
If the fourth review is concluded and approved by the IMF Board in January, nearly 1.6 billion U.S. dollars tranche of loan is expected to be released.
Turkey can draw a total of 2.7 billion U.S. dollars tranche of loan from IMF in 2003.