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IMF being unfair: Ecevit

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IMF being unfair: Ecevit

The IMF had no grounds on which to criticise Turkey over its performance in implementing the required reforms, said the Prime Minister....


Ecevit, speaking to reporters as he was leaving the Prime Ministry building in Ankara Friday, said that it was unfair that the IMF delayed the meeting, scheduled for 3 July, in response to the late approval of a law to close Emlakbank and its having to have objections to the appointments made to the executive of Türk Telekom.

       The closure of the state-owned Emlakbank and the putting in place of a professional board to manage Türk Telekom were two of the requirements of the IMF for the release of the $1.562 billion loan.

       Economy Minister Kemal Derviş, currently in the US, has put Turkey’s views over the unfairness of the decision to the appropriate officials, the Prime Minister said.

       Turkey has complied with all of the requirements of the IMF, as set out in the letter of intent lodged with the organisation ahead of the approval of the stand by package agreed to, said Ecevit. That is why the decision of the IMF to postpone ruling on the release of the latest tranche of the loan was not fair to Turkey, he added.

       Ecevit said that he had spoken to Derviş on Thursday and that he hoped that all of the problems relating to the loan would be resolved shortly.

       However, the Prime Minister avoided answering questions as to whether the IMF had imposed any political conditions on the release of the loan or whether any such requests had been discussed in Friday’s cabinet meeting. He said that the deliberations of cabinet could not be made public.

       

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The IMF had no grounds on which to criticise Turkey over its performance in implementing the required reforms, said the Prime Minister....