English Home
Headline
Opinion
China
World
Business
Sports
Education
Sci-Tech
Culture
FM Remarks
Friendly Contacts
News in
World Media
Features
Message Board
Voice of Readers
Feedback
Employment Opportunity

Sunday, January 09, 2000, updated at 10:44(GMT+8)
World Turkey to Curb Inflation: IMF Official

An official of the International Monetary Fund (IMF) has said he believes Turkey will pull down its inflation rate to 25 percent in the year 2000 as the government targets.

Carlo Cottarelli, chief official for Turkish affairs in the IMF, made the remarks at a meeting sponsored by the Turkish Banks Union, the Anatolia News Agency reported on Friday.

He attributed Turkey's chronic high inflation in the last 20 years to two main reasons: the weakening public financing and deteriorating poverty among the ordinary people.

He said the efforts exerted by the Turkish government to curb inflation in 1995 had failed. However, the present program to combat inflation is bold, the IMF official warned.

Cottarelli added that the success of the program depends on a few factors, such as the government's determination to stick to its promises in the stand-by agreement with the IMF, how the government will cope with emergencies and the structural reforms which are under way.

Later last year, the IMF signed a stand-by agreement with Turkey to support its economic reforms and the IMF will open an office in Ankara to supervise the implementation of the deal. (Xinhua)

Printer-friendly Version In This Section
  • Three Kidnappers Arrested in Yangon

  • Barak Names New Central Bank Governor

  • World Anti-Doping Agency Board to Hold Inaugural Meeting Next Week

  • Estrada Reshuffles Cabinet to Re-energize Govt

  • Swiss President Pledges Support for Armed Military Mission Abroad

  • Australia's Acceptance of Kalejs Sparks Criticism

  • Search
     

    Back to top
    Copyright by People's Daily Online, All rights reserved




    Relevant Stories




    Internet Links