According to the Central Bank of Turkey, the targets specified in the Letter of Intent dated April 5 have all been met for Base Money and Net International Reserves as performance criterion, and Net Domestic Assets as indicative target.
Under the current monetary program, the ceiling specified as performance criterion for the Base Money as end of April is 12.8 trillion Turkish liras, calculated on the average of the last five working days of the month. The average Base Money of the last five working days of April stood at TL 11.883 trillion, remaining below the upper limit of TL 12.8 trillion.
Under the current monetary program, the floor specified as performance criterion for Net International Reserves as end of April is - $6,500 million. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
