Press Release: Statement by IMF Managing Director Rodrigo de Rato on Turkey

August 6, 2004

Mr. Rodrigo de Rato, Managing Director of the International Monetary Fund (IMF), issued the following statement today on Turkey:

The Turkish authorities have informed us that they have decided to request a successor to the current Fund arrangement, which is delivering good results and expires in early February 2005.1

Over the coming weeks, the authorities plan to work on formulating the policies required to sustain their existing strategy of disinflation and debt reduction, aimed at robust and sustained growth. Once information on these policies has been provided to the Fund, the request for a successor arrangement will be considered under the applicable procedures.

1 See Press Release No. 04/163


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