“The IMF will do all it can to help the Turkish government deal with this disaster,” Camdessus said. “We have been discussing with the government of Turkey for some time an economic program that the IMF could support financially. The government has already made considerable progress in implementing reforms that were discussed with us in June, in the areas of privatization and social security reform, and has shown itself well able to deal with economic problems.
“As Prime Minister Ecevit and his colleagues devote their energies and abilities in the days ahead to deal with this latest crisis, they can be assured that we stand ready to help them in any way that we can. In the meantime, our thoughts and prayers are with them and with the people, who have lost so much.”