Log in

Turkey to Clear IMF Debt by May

Image ISTANBUL (AFP) - Turkey is set to make a "clean break" with the International Monetary Fund by paying off its remaining debt by May, Prime Minister Recep Tayyip Erdogan said on Saturday. "We have been paying and paying... Right now the debt stands at $860 million (643 million euros)," Erdogan said in televised remarks. "When we pay the last slice in May, we will zero out the debt and make a clean break," he added. Erdogan said his Islamic-rooted Justice and Development Party (AKP) government, which took over a $23.5 billion IMF debt when it came to power in 2002, was in talks to loan five billion dollars to the the global institution.

Subscribe to this RSS feed