IMF "Pleased" With Turkish Progress on Program

April 23, 2001 - 0:0
NEW YORK The International Monetary Fund said on Saturday it was happy to see turkey moving forward with efforts to implement laws aimed at winning the global lender's support to drag itself out of financial crisis.

"We are pleased to see the Turkish authorities making progress implementing their program," IMF spokesman David Hawley said.

Turkish authorities are trying to push through 15 pieces of legislation -- including a bill that passed on Thursday to give its national airline freedom to set domestic fares -- in a bid to woo lenders, Reuters reported.

Turkey is seeking $10 billion to $12 billion in urgent assistance from the international community to help it out of a financial crisis that has forced it to devalue its currency and pushed short-term interest rates to over 100 percent.