UPDATE 1-IMF mission to visit Turkey in Jan for loan talks
(Adds details from statement, background)
WASHINGTON, Dec 15 (Reuters) - The International Monetary Fund said on Monday an IMF mission will visit Ankara in early January that will could lead to an IMF-backed loan program.
"There has been considerable progress over the past several weeks in the technical discussions with Turkish authorities that could lead to an IMF program," the IMF said in a brief statement.
"In this context, the Turkish authorities have invited an IMF mission to Ankara in early January to continue the discussion on policy requirements and program modalities," it added.
Turkey and the IMF are expected to agree on a standby or precautionary loan deal as the country faces a $130 billion funding requirement in 2009. Government sources told Reuters this month that Turkey is seeking a loan of around $25 billion from the IMF.
Turkish business leaders and investors have called for a loan accord to stabilize the Turkish economy, which has slowed sharply this year while its markets have been battered by the effects of a global financial crisis. (Reporting by Lesley Wroughton; Editing by James Dalgleish)
