I.M.F. Delegation Expected To Visit Turkey In The Second Half Of January

ANKARA - International Monetary Fund (IMF) delegation, led by Turkey Desk Chief Juha Kahkonen, is expected to be in Turkey in the second half of January aiming to complete studies within the scope of fourth review.
The IMF delegation led by Kahkonen is expected to work with the officials of Treasury, State Planning Institute, Finance Ministry, Banking Regulatory and Supervision Agency, and Central Bank.
An updated letter of intent is expected to be presented to the IMF administration at the end of the visit in January.
Stating that the elections negatively affected policy performance in some fields, the IMF officials said there were some delays in solution of banks which were within the scope of intervention, in progress of privatization, in decrease of number of unnecessary personnel in some state and economic enterprises, and in preparation of indirect tax reform plan.
IMF wants measures to be taken in the year 2003 regarding sustainable growth, decrease of inflation, strong banking system, public section reform, and betterment of private sector atmosphere.
Talks of fourth review started at the end of September in the United States within the framework of the IMF-World Bank meetings. The talks continued in Ankara, however they had been suspended due to the general elections in November.
The delegation, which staretd contacts in Istanbul, had taken up problems of banking and real sector.
In case the IMF administration approves the Fourth Review, Turkey will be able to get 1.6 billion U.S. dollars loan.