Executive Board of the International Monetary Fund (IMF) today approved a three-year, SDR6.66 billion (about US $10 billion) Stand-By Arrangement to support Turkey's economic and financial program through May 2008.
An amount equivalent to SDR555.17 million (aboutUS $837.5 million) will be made available immediately, with the remaining balance distributed in eleven equal installments.
The Board also approved a one-year extension of Turkey's repurchase expectations totaling SDR2.52 billion (about US $3.80 billion) arising in 2006.
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International Monetary Fund
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