News Brief: IMF Sending Mission to Turkey, Managing Director Says

October 29, 2001

The Managing Director of the International Monetary Fund (IMF), Mr. Horst Köhler, today made the following statement after an informal meeting of the IMF's Executive Board on Turkey:

"An IMF negotiating mission will visit Ankara shortly to discuss Turkey's Fund-supported economic program and the tenth program review, which is expected to be on the Executive Board's agenda in the next few weeks.

"Turkey's economic program has been on track. The tragic events of September 11 hit Turkey particularly hard because of the country's location, its reliance on tourism, and its heavy indebtedness. The mission will work with the Turkish authorities to strengthen economic policy, and on this basis recommend how best Turkey can continue to be supported," Mr. Köhler stated.


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