The IMF’s Executive Board on May 15 approved an augmentation of Turkey’s three-year Stand-By Arrangement by SDR 6.4 billion (about $8 billion), bringing the total to SDR 15 billion (about $19 billion). The full text of Press Release 01/23, including details of Turkey’s economic program, is available on the IMF’s website (www.imf.org).

Abstract

The IMF’s Executive Board on May 15 approved an augmentation of Turkey’s three-year Stand-By Arrangement by SDR 6.4 billion (about $8 billion), bringing the total to SDR 15 billion (about $19 billion). The full text of Press Release 01/23, including details of Turkey’s economic program, is available on the IMF’s website (www.imf.org).

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Includes amounts under Supplemental Reserve Facility.

The amount agreed and the undrawn balance include SDR 9,117.36 million and SDR 2,604.96 million, respectively, under the Supplemental Reserve Facility which expired on December 1, 1999.

EFF = Extended Fund Facility.

PRGF = Poverty Reduction and Growth Facility.

Figures may not add to totals owing to rounding.

Data: IMF Treasurer’s Department