Turkey Request for Stand By Arrangement and Extension of Repurchase Expectations Staff Report Staff Supplements Press Release on the Executive Board Discussion and Statement by the Executive Director for Turkey 1st Edition by International Monetary Fund 1451838158 9781451838152

Turkey Request for Stand By Arrangement and Extension of Repurchase Expectations Staff Report Staff Supplements Press Release on the Executive Board Discussion and Statement by the Executive Director for Turkey 1st Edition by International Monetary Fund – Ebook PDF Instant Download/Delivery: 1451838158, 9781451838152

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Product details:

ISBN 10: 1451838158 

ISBN 13: 9781451838152

Author: International Monetary Fund

This paper discusses Turkey’s Request for Stand-By Arrangement (SBA) and Extension of Repurchase Expectations. Turkey’s economic program has delivered impressive results. Output has grown rapidly, inflation has fallen to its lowest level in a generation, and government debt has declined markedly. However, significant vulnerabilities remain. The authorities have prepared a three-year economic program for which they are seeking the support of the IMF. Implemented successfully, the program should help Turkey converge toward the economies of the European Union and exit successfully from IMF financial support.

Table of contents:

I. INTRODUCTION: SUSTAINING AND ADVANCING RECENT GAINS

II. A FAVORABLE ECONOMIC BACKDROP TO THE NEW PROGRAM

III. THE AUTHORITIES’ THREE-YEAR PROGRAM

IV. PROGRAM MODALITIES

V. STAFF APPRAISAL

APPENDIX I Fund Relations

APPENDIX II IMF – World Bank Relations

APPENDIX III Report on Exceptional Access for Request of Stand-by Arrangement

ATTACHMENT 1 Letter of Intent and Memorandum of Economic and Financial Policies

ANNEX A Proposed Schedule of Purchases

ANNEX B Quantitative Performance Criteria and Indicative Targets for 2004-05

ANNEX C Structural Conditionality 2005

ANNEX D Monetary Targets

ANNEX E Targets for Net International Reserves

ANNEX F Fiscal Targets

ANNEX G Program Baseline for Treasury Net Lending

ANNEX H Short-Term External Debt Ceilings

ANNEX I Medium- and Long-Term Debt Ceilings

ANNEX J Program Exchange Rates

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Tags: International Monetary Fund, Request, Arrangement, Extension