Turkey, Economy

Turkey ‘not’ to reopen IMF chapter: President Erdogan

The Turkish president rules out any assistance from international lender

07.10.2018
Turkey ‘not’ to reopen IMF chapter: President Erdogan Turkish President and leader of Turkey's ruling Justice and Development (AK) Party Erdogan speaks during last day of his party's consultation meeting in Kizilcahamam district of Ankara, Turkey on October 07, 2018. ( Murat Kaynak - Anadolu Agency )

Ankara

By Ahmet Salih Alacaci  

ANKARA 

Turkish President Recep Tayyip Erdogan has ruled out any assistance from the International Monetary Fund (IMF) on Sunday.

“Turkey closed the IMF chapter not to open it again,” Erdogan said during his closing speech of the ruling Justice and Development (AK) Party's consultation meeting in the capital Ankara.  

Turkey paid off the entirety of its debt to the international lending institution in 2013.

Erdogan added Turkey is “far from needing” a loan or technical assistance from the IMF.

Earlier on Sunday, Treasury and Finance Minister Berat Albayrak said that the Turkish economy was in the process of stabilizing.


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