Turkey’s treasury reported that the state’s debt, both domestic and foreign increased by $14.7 billion in the first quarter of 2001, reaching $138.3 billion by the end of March. Foreign debt alone increased to $9.6 billion, reported Cumhuriyet.
Turkey is expecting $16 billion in grants from financial institutions in an attempt to boost its suffering economy. Under the framework of the recently undertaken three-year economic reform program, funding from the International Monetary Fund (IMF) and the World Bank has already been confirmed. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
