Turkey signaled that it is preparing an IMF-backed crisis plan to steady its markets, financial system and the lira on Tuesday when Prime Minister Bulent Ecevit said that everything was on track for a statement on Wednesday. Ecevit told journalists: "Everything is on the right lines and going fine in the discussions with the IMF."
He said that talks with the IMF were being held in a positive atmosphere, but refused to elaborate on the amount of an additional aid the International Monetary Fund might provide. After a meeting between the three coalition partners,
Turkey's Deputy Prime Minister Mesut Yilmaz said that Ankara "agrees totally" with the IMF on the measures to deal with the crisis, which many analysts and financial dealers considered posed a threat of devaluation. "We are trying to complete some technical details (on Tuesday)," Yilmaz said, adding that Ecevit would announce the measures on Wednesday.
Junior Treasury Minister Selcuk Demiralp said that an "agreement in principle" had been reached with the IMF and stressed that Ankara would not deviate from a three-year four-billion-dollar stand-by agreement with the Fund. "There will be no changes to economic parameters and the program's targets," he said. . — (AFP, Ankara)
© Agence France Presse 2000
© 2000 Mena Report (www.menareport.com)