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Monday, 31 December, 2001, 12:25 GMT
Turkey targets new IMF loan
Turkey is to present a new three-year plan of economic reforms to the International Monetary Fund (IMF) in early January.

Economy Minister Kermal Dervis is hoping to secure a $16bn loan from the IMF and the World Bank.

Local press reports say the new documents will see Turkey's economic growth target cut to 3% from the 4% previously estimated.

Turkey needs the IMF's money to help it sort out its domestic debt problems and lift the country out of its worst recession since 1945.

It has already promised the IMF that it will slash spending and raise revenue, and has won approval for its 2002 budget.

See also:

13 Dec 01 | Business
Turkey passes tight 2002 budget
16 Nov 01 | Business
Turkey close to new loan
13 Nov 01 | Business
Dam failure piles on economic woe
30 Oct 01 | Business
Turkey awaits IMF funds
17 Sep 01 | Business
Turkey rattled by conflict fears
31 Aug 01 | Business
Turkey's economy shrinks
13 Jul 01 | Business
Turkey cheers loan resumption
20 Jul 01 | Business
HSBC buys insolvent Turkish bank
12 Dec 01 | Business
Turkey passes 2002 budget
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