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Turkey expected to ink two-year loan deal with IMF
"We want a two-year deal because we want to see conditions at the end of 2011," said Ali Babacan, who is also a deputy prime minister of Turkey.
"A possible accord would not be an urgent need. It would be supportive of economic growth," Babacan told a televised interview with TV channel 24.
In May 2008, Turkey completed a 10-billion USD stand-by arrangement with IMF. Turkey and the Washington-based lender have been holding talks on a possible loan deal for months. However, Turkey's 2010 budget approved by the parliament last week does not have any IMF financing for the next year.
Babacan said possible IMF financing would be used to help boost Central Bank reserves.
He also said that talks with the IMF were at a good point, however, he stated that small details delayed a possible deal.
"We have overcome major problems long time ago," he said.
"Speaking of the possibility of a deal also includes the possibility of not having a deal," he added.
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