IMF okays final Turkey loan review,no word on plans

Fri May 9, 2008 2:04pm EDT
 
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WASHINGTON, May 9 (Reuters) - The International Monetary Fund on Friday approved the final review under Turkey's $10 billion loan program, and an IMF official said the government had not yet communicated whether it wants a follow-up deal.

Approval of the IMF review allows Turkey to draw down $3.65 billion remaining under the loan, which expires on May 10.

"Credibility is earned by hard work and good policies and if those are in place Turkey is certainly well positioned to do well, even without a formal program with the IMF," IMF mission chief to Turkey, Lorenzo Giorgianni, told a conference call. (Reporting by Lesley Wroughton; Editing by Chizu Nomiyama)

 
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