Turkey: Fifth Review Under the Stand-By Arrangement, Request for Waiver of Performance Criteria and Extension of Repurchase Expectations-Staff Report; Staff Supplement; and Press Release on the Executive Board Discussion
October 16, 2003
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Turkey showed strong implementation of macroeconomic policies and economic reforms under the Stand-By Arrangement (SBA). Executive Directors commended the disinflation, debt reduction, and sustained economic growth, and stressed the need to safeguard macroeconomic stability and accelerate structural reforms. They welcomed the European Union-related legislation, and commended The Central Bank of Turkey for its monetary policy and the Banking Regulation and Supervision Agency in its supervision of banks. They agreed that Turkey has successfully completed the fifth review under the SBA, and granted waiver.
Subject: Banking, Economic sectors, Exchange rates, External debt, Fiscal policy, Fiscal stance, Foreign exchange, Monetary base, Public debt, Public sector
Keywords: CR, Exchange rates, executive board discussion, Fiscal stance, Global, ISCR, market development, market expectation, policy, policy credibility, Public sector, reform legislation, SDR, staff appraisal
Pages:
84
Volume:
2003
DOI:
Issue:
324
Series:
Country Report No. 2003/324
Stock No:
1TUREA0012003
ISBN:
9781451838046
ISSN:
1934-7685
