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Erdogan says Turkey will pay off all its debt to IMF by April 2013

17 May 2011 [13:33] - TODAY.AZ
Turkish Prime Minister Recep Tayyip Erdogan has said that Turkey would pay off all its debt to the International Monetary Fund (IMF) by April 2013.

He said at the 66th General Assembly of the Union of Chambers & Commodity Exchanges of Turkey (TOBB) in Ankara on Monday, "although we have less than a month ahead of the general elections on June 12, there are not any uncertainties and any concerns about economy."

"Today, Turkstat announced that jobless rate was down to 11.5 percent. It will further drop in the coming months," he said.

"Gross foreign exchange reserves of the Turkish Central Bank including gold rose to $95.3 billion. Reserves increased by $63 billion in the last 8.5 years. In 2002, Turkey's total debt to IMF was $23.5 billion. Now, our debt is $5 billion. We can repay that debt instantly. But, we are not in a hurry since we borrowed it very cheaply. Turkey will pay off all its debt to IMP by April 2013," he said.

"Sales of automobiles and household appliances are on the rise. In the first four months of this year, 177 thousand automobiles were sold. In the same period last year, 104 thousand automobiles were sold in Turkey. On the other hand, sales of automobiles increased up to 510 thousand in 2010 from 91 thousand in 2002. Our tourism revenues also increased to $21 billion in 2010 from $8.5 billion in 2002," he said.

"Turkey has never seen such an atmosphere of stability during an election period before," he added.


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