Turkey's Economy Minister meets IMF delegation in Ankara

Babacan met with an IMF delegation in capital Ankara for what is dubbed as Article IV consultations, a series of annual talks with officials of the Fund's member countries.

Turkey's Economy Minister meets IMF delegation in Ankara

Turkey's Economy Minister Ali Babacan on Monday met with an IMF delegation in capital Ankara for what is dubbed as Article IV consultations, a series of annual talks with officials of the Fund's member countries.

Babacan gathered with the IMF group headed by the IMF Turkey desk chief, Rachel Van Elkan, along with senior officials from the Turkish Treasury.

The IMF team arrived in Turkey on Wednesday for the Article IV consultations and met with representatives from the private sector and civil society organizations in Istanbul.

The Article IV consultations is set focus on latest economic developments, Turkish economy's medium and long-term prospects as well as the country's efforts for structural
reforms.

The talks are expected to conclude end of May.

Turkey announced last March that it would no longer hold talks with the IMF on a standby loan, saying that the country did not need "emergency funding."

Talks over a standby deal between Turkey and the IMF had been continuing since May 2008 when the country's last standby deal expired.

IMF economists visit the member countries once a year under Article IV consultations to gather information and hold discussions with governments and central bank officials, and often private investors and labor representatives, members of parliament, and civil society organizations.

Upon its return, the mission submits a report to the IMF's Executive Board for discussion. The Board's views are subsequently summarized and conveyed to the country's authorities.

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Last Mod: 17 Mayıs 2010, 15:17
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