Turkey's new crisis recovery pact with the International Monetary Fund sees the net public debt stock rising to 78.5 percent of GNP at the end of 2001 and falling back to 64.9 percent by the end of 2003.
The country has issued around $20 billion in new domestic debt to cover losses at state banks and further billions to straighten the books of failed private banks it has taken into receivership. ― (Reuters, Ankara)
© Reuters 2001
© 2001 Mena Report (www.menareport.com)