Turkey, IMF terminate talks

11/03/2010

ANKARA, Turkey -- Prime Minister Recep Tayyip Erdogan announced on Wednesday (March 10th) that Ankara and the IMF have agreed to discontinue talks on a stand-by agreement. He says the two sides differed over some of the IMF's strict conditions, adding that Turkey is now capable of "standing on its feet". The previous $10 billion agreement between Turkey and the IMF expired in May 2008 and was followed by talks on a new loan that did not materialize. The IMF says it will send a mission to Turkey in May to reassess the situation, the first such mission in three years. (Zaman, Sabah - 11/03/10; AFP, AP, Reuters, Hurriyet - 10/03/10)

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