Turkey's newly appointed Economy Minister Kemal Dervis said on Sunday, March 11, he would soon announce fresh economic policies aimed at digging the country out of a crippling financial crisis.
Dervis said he would take steps towards formulating the new policy on Monday. "I will hold meetings with my colleagues... and then meet the prime minister and deputy prime ministers and we'll take a large step towards defining the policy," Dervis told journalists at a press conference in Istanbul. "We have to act fast and effectively," he said.
A former vice-president of the World Bank, Dervis traveled to the United States on Wednesday to secure support from the funding body and the International Monetary Fund (IMF).
A political row between Turkish Prime Minister Bulent Ecevit and President Ahmet Necdet Sezer last month shattered confidence in the Turkish government sending the stock market sliding and forcing the Turkish lira down by 30 percent against the dollar.
Dervis refused to reveal the extent of a possible financial lifeline, but insisted that it was necessary to introduce reform to regain consumer confidence. "We must ensure that everybody is behind the program" he told journalists. — (AFP, Istanbul)
© Agence France Presse 2001
© 2001 Mena Report (www.menareport.com)