While economists claim that there is no longer any need for the IMF’s support, Economic Minister Ali Babacan clarified the issue.
Babacan said that Turkey was one of the 184 founder members of the fund, explaining that Turkey’s relations with IMF would continue in a different format.
According to the information Babacan has given, IMF sends delegates even to Germany and China. Even the United States is undergoing IMF’s revision; however, they are under a different format.
The minister said that Turkey’s relation with the fund was with a “credit stand-by” agreement.
“As the year 2008 approaches, we will decide what the new model will be. We have not made a decision yet,” Babacan explained.
The ongoing relations with the IMF had an influence on the markets, emphasized Babacan, adding that this issue should not be handled emotionally.
“If we can decrease interest rates only by one percent, we will go on working with the IMF. Nobody has the right to make Turkey pay more due to their complexes,” said Babacan, adding this was the procedure of 10 other EU member states.
