Turkey expects revenues from privatization to amount to one billion dollars this year and, if market conditions are positive, $3.5 billion next year, according to a letter of intent to the IMF made public on Tuesday, May 15.
The letter was shown to reporters in Ankara as the IMF's board met in Washington to decide whether to give final approval to eight billion dollars of new loans as part of a rescue package that also includes two billion dollars from the World Bank.
The letter said that Turkey's new economic program targeted a primary surplus of at least 9,300 trillion lira by the end of this year, while the public sector budget deficit would not exceed 26,500 trillion lira this year. ― (Reuters, Algiers)
$1 (USD) = 1,133,500.0000 Turkish Lira (TRL)
© Reuters 2001
© 2001 Mena Report (www.menareport.com)