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TURKEY: IMF PRESENTS GOVT WITH SUPPLEMENTARY LETTER OF INTENT.(International Monetary Fund)(Brief Article)

IPR Strategic Business Information Database, December, 2000

According to Hurriyet, the Supplementary Letter of Intent, prepared after the third and fourth review of IMF bureaucrats as a part of the IMF's stand-by program, was submitted to the government. The IMF Chief of Turkey Desk, Carlo Cottarelli, and his team prepared the letter. The government will send the letter in one or two days to Washington to be discussed at the IMF Executive Board's meeting Dec.

21. After approval of the letter, two loan portions of the IMF Stand-by Credits, each worth $285 million, will be released for Turkey's use. The Third Letter of Intent includes the presentation of Turk Telekom and Turkish Airlines tenders and privatization of State Monopoly for Tobacco and Alcohol (Tekel), Sugar Company, Eti Holding, Machinery and Chemical Industry...

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