Babacan says Turkey not to have any talks with IMF about program till May

Asked if stand-by talks with the IMF terminated, Babacan said Treasury Undersecretariat issued a statement and gave information about how the process would operate.

Babacan said every IMF member made review once a year within the framework of 4th Article, and noted that Turkey did this review lately in May 2007 and the report was made public in November 2007.

"As long time has passed, we decided to carry out the study soon and following telephone conversations on Tuesday evening we agreed on beginning of May. No meeting will be in question on the program till May. Following the 4th Article review, we will decide on the framework with IMF under the conditions of that day."

The Treasury said it invited an IMF team to Ankara after the fund and World Bank Spring meetings on April 24-25 for the regular Article IV consultations. The discussions will allow a "comprehensive evaluation of how relations with the IMF will be carried out in the future," the statement said. Turkey last held article IV consultations in March 2007.

The IMF backs Turkeys medium term economic program and future cooperation will be based on that, the Treasury said in a statement on its Web site.