IMF offers Turkey 19-billion-dollar credit

by Amitjha | November 24, 2008 at 02:15 am

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Ailing Turkish economy will get some reprive from this IMF credit facilty.But this will not support the economy for long, this loan will come with lots of precondition on the part of financial sector reform,.How the Turkish govrnment will stert the expected reform process in these tough times , will be nice to watch.

The International Monetary Fund (IMF) has offered Turkey 19 billion dollars (15 billion euros) in credit despite the government's push for a

larger loan, the Zaman newspaper reported on Monday.

Turkish officials have declined to reveal the amount Ankara is seeking, but Zaman said the government had been aiming at a loan of between 20 billion and 40 billion dollars to weather the global financial crisis.
MTurkey could normally receive 15 billion dollars at most in IMF credit,