"Turkey and IMF reach accord on $10bn loan
By Vincent Boland in Ankara
Published: April 13 2005 03:00 | Last updated: April 13 2005 03:00
Turkey and the Inter-national Monetary Fund said yesterday they had reached agreement on a $10bn loan arrangement after weeks of haggling over the progress of economic reforms and a controversial regional aid spending plan.
Both sides said a final round of talks on the arrangement had been successfully completed and a letter of intent updated and finalised. They said the board of the IMF might consider signing off on the loan in the first half of May. Agreement in principle on the loan was announced in December but the conditions for its disbursal have only now been met."
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