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IMF Reviews Monetary Policy in Turkey

An International Monetary Fund team is in Turkey to review its progress in economic reforms, after granting Ankara a $16 billion stand-by credit in February.

Officials from the fund are expected to meet with private sector and government officials during their two weeks in Istanbul and Ankara. Their meetings are expected to focus on government budget performance, monetary policy and other economic reforms.

The $16 billion IMF package approved in early February is the international organization's third major loan for Ankara in less than two years aimed at helping Turkey pull out of its worst recession in more than 55 years.