Anadolu Agency: News in English, 01-07-13

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ANADOLU AGENCY

NEWS

13 JULY 2001 Friday

CONTENTS

[01] TURKEY-PRESS SCAN

[02] IMF APPROVES CREDIT TO TURKEY

[03] WORLD BANK ALSO APPROVES LOAN FOR TURKEY (1)

[04] WORLD BANK ALSO APPROVES LOAN FOR TURKEY (2)

[05] WORLD BANK ALSO APPROVES LOAN FOR TURKEY (3)

[06] TURKEY-U.S. TRADE AND INVESTMENT COUNCIL SECOND TERM MEETING HELD IN ANKARA

[07] OZTRAK, TREASURY UNDERSECRETARY, SAYS 8TH REVIEW COMPLETED IN IMF EXECUTIVE BOARD ON THURSDAY

[08] TREASURY UNDERSECRETARY OZTRAK: (2) ''TRIVIAL FLUCTUATIONS AND IMAGES OF DEVIATION GIVES THE IMPRESSION THAT AS IF A NEW CRISIS WOULD COME, AND EXAGGERATED IN PUBLIC''

[09] COUNCIL OF MINISTERS APPROVES WORLD BANK LOANS WORTH OF 1,7 BILLION DOLLARS

[10] TREASURY UNDERSECRETARY OZTRAK: (3) -''CENTRAL BANK IS ABLE TO USE ALL THE MEANS THAT ARE GIVEN TO IT AND ACT INDEPENDENTLY''

[11] STATE MINISTER KARAKOYUNLU SAYS TOBACCO PRODUCTION INCREASED DUE TO POPULIST POLICIES

[12] NUCLEAR WASTE PROJECT OF RUSSIA -ENVIRONMENT MINISTER AYTEKIN:''ENVIRONMENT MINISTRY WILL APPLY TO ALL LEGAL WAYS TO PREVENT PASSAGE OF NUCLEAR WASTES FROM TURKISH TERRORIAL WATERS''

[13] STATE MINISTER ONAL: ''BOTTLENECK IN ECONOMY STEMS FROM WEAKNESS IN MARKET''

[14] STATE MINISTER KARAKOYUNLU DENIES CLAIMS THAT TURKEY TO BECOME FOREIGN CIGARETTE HEAVEN

[15] SPK AIMS TO INCLUDE SAVINGS TO ECONOMY

[16] STATE MINISTER DERVIS: ''WITH THE ARRIVAL OF THIS MONEY OUR ROAD HAS OPENED UP. WE WILL CONTINUE ON THE PATH WE ARE FOLLOWING''

[01] TURKEY-PRESS SCAN

HURRIYET (LIBERAL)

FRANCE EXTENDS SUPPORT TO TURKEY
MEDEF, the French enterpreneurs association which came to Turkey with a crowded businessmen delegation boosted morale to Turkey. MEDEF Chairman Seiliere said that France trusts Turkey and it will continue to support it. ''We want to create new business opportunities in Turkey,'' he added.

MILLIYET (LIBERAL)

Public expends great support to Dervis who is exposed to the criticisms of the politicians in the recent days.

IN THE END MONEY COMES
The International Monetary Fund (IMF) Thursday released 1.5 billion U.S. dollars loan tranche. Also, signatures were put to the loan of the World Bank worth of 1,7 billion U.S. dollars.

World Bank sources said World Bank Executive Board Directors Committee, which convened at 21:30 local time, approved financial and public sector adjustment loan and agricultural reform loan worth of 1.7 billion U.S. dollars.

SABAH (LIBERAL)

3,2 BILLION DOLLARS OF LOAN RELEASED
The credit crisis between Turkey and the International Monetary Fund (IMF) has been solved. IMF Executive Directors Board convened yesterday and it released the loan worth of 1,5 billion dollars to Turkey. The World Bank Board which also convened approved to give 1,7 billion dollars loan to Turkey, too. The 3,2 billion dollars of credit will arrive in Turkey in the coming days.

CUMHURIYET (LEFT)

U.N. HUMAN DEVELOPMENT REPORT ANNOUNCED
Turkey was ranked the 82nd in respect of human development in the report which has been prepared by United Nations Devolopment Programme (UNDP). This year, Turkey advanced by three steps. Turkey was ranked 85th in the UNDP report last year. Turkey is in average level in respect of human development, the report said, adding that the national income per capita has increased to 6380 U.S. dollars when the data of 1999 are taken as basis. The national income of Turkey is 185,7 billion U.S. dollars. When the national income is accounted due to purchase power, it rises to 410,8 billion U.S. dollars. However, 20 percent of the poorest section in the society benefits from only 5.8 percent of the total consumption in the country, the richest 20 percent on the other hand gets a share of 47,7 percent from the total consumption. The literacy rate has also increased compared to recent years.

RADIKAL (LEFT)

''50 U.S. DOLLARS'' CLUB
An architectural change is needed in Istanbul's Ataturk Airport for the 50 U.S. dollars tax which will be obtained from each Turkish citizens who will go abroad. The implementation will take place as of August 1.

YUCELEN CLAIMS THERE IS NO SYSTEMATIC TORTURE IN TURKEY
Interior Minister Rustu Kazım Yucelen claimed yesterday that there is no systematic torture in Turkey. Officials investigate claims of all forms of torture and punish those personnel who are accused of torturing persons.'' Yucelen said that judiciary and administrative investigations were launched against 12,535 persons who were accused of torturing persons or treating them badly from January 1, 1995 to April 30, 2001. ''If there were systematic torture in Turkey, there would not be any investigation launched about officials who are accused of torturing persons,'' he added.

TURKIYE (RIGHT)

KUTAN: OUR PARTY WILL BE READY BY NEXT WEEK
Recai Kutan, the leader of the banned Virtue Party (FP), said they would set up the new party next week. Kutan said, ''we will apply to Interior Ministry to set up the party. The preparations have come to the final stage. We exchange views with out friends about all the issues.''

ZAMAN (CONSERVATIVE)

The speculators, who make a diffirent rumour every day, cause extreme floatings in the stock exchange, foreign exchange and interest rates. One day Prime Minister Ecevit dies, and the other day moratorium is declared.

''WE RELY ON TURKEY''
Ernest Antoine Seilliere, the Executive Board President of MEDEF, which is the most effective businessmen organization of France, pointed out that they relied on Turkey, and boosted morale to Turkish businessmen. Seilliere, who held meetings with the TUSIAD member businessmen, pointed out that Turkey's membership to the European Union (EU) would be realized.

Seilliere expressed pleasure that France was the first country which made the most investment in Turkey. He said, ''we are here because we fully trust on you economic and European future of your country.''

[02] IMF APPROVES CREDIT TO TURKEY

A statement issued by the IMF after meeting, pointed out that, ''IMF Executive Board approved eighth review of Turkey's economic program which is supported by the three-year Stand-By agreement. The statement said decision of the Executive Board will provide Turkey to get approximately 1.5 billion U.S. dollars.

The Executive Board meeting, which had been expected to take place on July 3, was postponed, showing the problems in Telekom and banking fields as a reason.

[03] WORLD BANK ALSO APPROVES LOAN FOR TURKEY (1)

World Bank sources said World Bank Executive Board Directors Committee, which convened at 21:30 local time, approved financial and public sector adjustment loan and agricultural reform loan worth of 1.7 billion U.S. dollars.

IMF Executive Board of Directors also approved releasing second tranche of the loan worth of 1.5 billion U.S. dollars.

[04] WORLD BANK ALSO APPROVES LOAN FOR TURKEY (2)

Wordl Bank said in a statement that the Executive Directors Board decided to release 1,1 billion dollars of financial and public sector adjustment loan and 600 million dollars of agricultural adjustment credit to Turkey.

The statement added that the World Bank Board will take up the issue of providing a loan worth of 6,2 billion dollars credit to Turkey in the next two years within the scope of the Country Assistance Strategy Development Report for Turkey as long as Turkey undertakes the reforms.

[05] WORLD BANK ALSO APPROVES LOAN FOR TURKEY (3)

''With these loans the World Bank signals our support for Turkey's structural reforms - which we hope will enhance confidence and improve the prospects for economic recovery. We know it's a difficult program but we are confident with determined actions the problems will be overcome. As Turkey's partner in development we support Turkey and expect to do even more in the coming months especially on the social issues,'' he said.

The World Bank said in a statement that ''The World Bank's Board of Directors today approved a 1.1 billion U.S. dollars of Programmatic Financial and Public Sector Adjustment Loan and a 600 million U.S. dollars loan to support the Agricultural Reform Implementation Project for Turkey. In the same meeting, the Board discussed the World Bank Group's Country Assistance Strategy Progress Report for Turkey, which could provide up to 6.2 billion U.S. dollars for Turkey over two years, as the reforms are implemented.''

''The revised strategy supports Turkey's implementation of the government's accelerated economic program to deal with the crisis. The focus on financial and public sector reforms as well as enhanced social protection form the basis of the strategy while continuing with support for Turkey's energy and telecommunications sectors. Long term IBRD support to programs in education, health, community-based watershed management and community development will continue alongside the strong support for reform.''

''The Programmatic Financial and Public Sector Adjustment Loan (PFPSAL) is the first loan in support of the Government's multi-year financial and public sector reform program. The main objective of the loan is to address the government's immediate financial and public sector reform priorities in the aftermath of the November 2000 and February 2001 financial crises.''

''It is expected that the reforms supported by the loan will bring several benefits to Turkey. Financial sector reforms will help to restore confidence in the first instance in the banking system, in part by strengthening the foundation for an efficient and sound banking system at international levels of quality and performance. Other important results of reform for the banking sector will be to reduce its vulnerability to shocks, and position it for Turkey's EU accession by aligning the prudential regime with EU norms.''

''Public sector reform will support urgent fiscal measures to respond to the crisis while ensuring that social spending is protected. As important, the changes supported by PFPSAL also lay the foundation for sustained fiscal adjustment and modern public sector management. The latter includes strengthened management of public expenditure and liabilities, as well as reaching for international standards of financial accountability.''

''The World Bank expects to continue to support phased implementation of the reform program for the public and financial sectors over at least the next two years.''

''The Agricultural Reform Implementation Project (ARIP) has the primary objective of helping the government of Turkey to implement its agricultural reform program, aimed at dramatically reducing artificial incentives, government subsidies, and the state's role in marketing agricultural products.''

''The ARIP includes a component in support of the introduction of a unified national program of area-based direct income support for all farmers, a program that features simplicity and transparency. This will encourage agricultural producers and agro-industry to increase productivity in response to clear market signals, rather than artificial support prices and subsidies. Another component supports one-time payments to farmers who move out of production of crops that are currently in oversupply because of high support prices, and begin production of more marketable crops. The project will also assist with the ongoing restructuring of sales cooperative unions and their member cooperatives to make them more responsive to farmers, and will finance payments to redundant workers. Finally, the project will help the government communicate broadly to the public in Turkey about the program and how they may benefit from it.''

[06] TURKEY-U.S. TRADE AND INVESTMENT COUNCIL SECOND TERM MEETING HELD IN ANKARA

Foreign Trade Undersecretary Kursad Tuzmen and U.S. Trade Deputy Representative Catherine A. Novelli headed the Turkish and American delegations in the meeting.

Foreign Ministry said on Friday that a joint statement was signed after the meeting held on Thursday in which the sides exchanged views about the measures that can be taken to further improve the commercial and economic relations between the two countries.

The sides decided to come together to discuss measures that can be taken in order to enable Turkish exporters to benefit more from the quotas applied by the U.S. for Turkish textile and read-to-wear products.

Moreover, the issue of broadening the facilities of the Generalized Preferential System which is applied by the U.S. for Turkey, to other products was stressed once again and Turkish side noted that they expected a positive approach from the U.S. officials on the issue.

The sides also reached a consensus to further liberate the trade between the two countries and to search for ways to enable Turkish products to enter American markets more easily.

[07] OZTRAK, TREASURY UNDERSECRETARY, SAYS 8TH REVIEW COMPLETED IN IMF EXECUTIVE BOARD ON THURSDAY

Oztrak said the World Bank also approved a loan, worth of 1.1 billion U.S. dollars, which will be used in budget finance, noting that this loan could also be used next week.

Oztrak held a news conference and briefed about the decisions taken by the IMF and the World Bank on Thursday evening and Friday morning. Oztrak also evaluated the recent developments in economy.

Pointing out that the World Bank also approved agricultural reform credit, worth of 600 million U.S. dollars, Oztrak said thus finance, worth of 6.6 billion U.S. dollars was provided by the end of July.

Oztrak said, ''9.2 billion U.S. dollars will be provided by the end of this year in this framework. A total of 15.7 billion U.S. dollars credit will be used from the IMF and the World Bank in May-December period.''

''2.9 billion U.S. dollars part of this facility was used to facilitate Treasury's borrowing. The amount, which will be used in budget finance including the World Bank credits, will reach 12 billion U.S. dollars by the end of the year,'' he said.

Speaking about the recent economic developments, Oztrak said interests, had fallen rapidly with the implementation of the program, but exceeded 90 percent in June.

Oztrak said this situation was perceived in a pessimistic way in the markets, adding that, ''however, we think some elements were ignored in evaluations.''

Stressing that ''Transition to a Strong Economy Program,'' was a pre-loaded program, which means the institutional framework, which the program foresaw to realize regarded with structural reforms, could be completed within two months, Oztrak said implementation was more important from now on.

[08] TREASURY UNDERSECRETARY OZTRAK: (2) ''TRIVIAL FLUCTUATIONS AND IMAGES OF DEVIATION GIVES THE IMPRESSION THAT AS IF A NEW CRISIS WOULD COME, AND EXAGGERATED IN PUBLIC''

Oztrak, who held a news conference in Treasury Undersecretariat, pointed out that various sections of the society were affected while such kind of structural reform programs are put into implementation, and legal arrangements regarded with them are being made.

Oztrak said from time to time resistance appear in the society regarded with those, and that those resistances were reflected in government and parliament. He said, ''however, when you consider the results, all the reforms, which were envisaged, were realized within two weeks.''

Likening the economic crises to quakes, Oztrak said Turkey had to fight against quake psychology for a long time following the massive quake recorded in 1999. Oztrak said, ''trivial fluctuations, and images of trival deviations, always give the impression that a new crisis would come, and the situation is exaggerated in the society.''

Treasury Undersecretary Oztrak pointed out that, ''however, when we consider the program in general, structural dimension of the economy are strengthened seriously.''

''I want to focus on some macro-economic balances. The primary surplus of the budget, foreseen in the program in January-May period is 3.2 quadrillion lira. The realization was 4.3 quadrillion lira. The primary surplus, which appeared in cash balance of the Treasury in June is 6.9 quadrillion lira. The primary surplus which we targetted for the end of year is 6.9 quadrillion lira. This shows that the program developed in a strong way in public finance. The second important balance is the current accounts balance in economy. When we consider the current accounts balance, the deficit in current accounts that was three billion U.S. dollars last year as of the end of April, this year is about to be balanced in the same period. When we take into consideration that we reached a balance in the first five months and that effects of tourism incomes would be seen starting as of those months, we can say that the current accounts would be realized in a strong point,'' Oztrak said.

[09] COUNCIL OF MINISTERS APPROVES WORLD BANK LOANS WORTH OF 1,7 BILLION DOLLARS

The first one, namely the Programmatic Financial and Public Sector Adjustment loan aims at supporting the medium-term reform programmes in Turkey.

The other credit worth of 600 million U.S. dollars will be used in financing Agricultural Reform Implementation Project activities.

The loans worth of 1,7 billion dollars provided from the World Bank will be valid as of July 12, 2001.

The cabinet decision approving the loans was published in the Official Gazette the same day and went into force.

World Bank approved to give the loans to Turkey early the same day.

[10] TREASURY UNDERSECRETARY OZTRAK: (3) -''CENTRAL BANK IS ABLE TO USE ALL THE MEANS THAT ARE GIVEN TO IT AND ACT INDEPENDENTLY''

Addressing a news conference, Oztrak said the Turkish economy was extremely strengthened with the program implemented at the time being, Turkish economy is also equipped against the crisis coming from abroad.

Oztrak said within the framework of the implementation of the economic program, Turkey realized a banking reform which any country could not realize easily. He said negative effects of the public and fund banks on the markets were overcome, and that overnight borrowings were compensated.

''If we remember the past stability programs, the biggest problem which the Turkish economy experienced was the weakness of the public banks and banking system. To this end, the things that were done in banking sector are extremely important. Particularly, with the operations that were made by the Banking Regulatory and Supervisory Board (BRSB) in private banks sector, the banking system was rehabilitated to a great extend, and in parallel with this its resistance to crises was developed,'' Oztrak pointed out.

Oztrak said, ''when the program which is implemented at the time being is considered, and when compared with last year, two elements attracted the attention. One of them was the floating exchange rate policy, and the other one was that floating short term interests.

''The exchange rate policy floats, which means it is flexible. That means it has the capacity to absorb the shocks that may come from outside. The second one is that the short term interests can also float. In other words, the Central Bank can act independently.

Oztrak also briefed about the domestic debt stock.

Recalling that Treasury's domestic debt stock was 51.6 quadrillion as of the end of 2000, Oztrak said this number reached 92 quadrillion as of July 12. He said the most important increase was in public section, noting that the debts in public section, which was around 26 quadrillion lira, increased to 62.2 quadrillion lira. Oztrak said when distribution of the debts is considered, nearly 20 quadrillion lira of this debt was to Central Bank.

Oztrak said Turkey will return to the international borrowing markets before the end of 2001. ''We borrowed 700 million U.S. dollars at the beginning of the year of the 2.5 billion U.S. dollars we planned. We believe we will realise the rest towards the end of the year,'' he said.

Oztrak said fundamental balances of the program was seen strong, noting that an important part of the domestic debt stock was in public section. He said, ''within this framework, when the balances of this strong program is taken into consideration, the interests will reduce. Another issue which I should underline is that structural balances of the Turkish economy are stong. Turkey does not appear to have a debt rollover problem.''

[11] STATE MINISTER KARAKOYUNLU SAYS TOBACCO PRODUCTION INCREASED DUE TO POPULIST POLICIES

''The products which were not demanded were purchased by state monopoly TEKEL, and there have been tobacco surplus. There is a tobacco stock of 500, 000 tonnes which is kept since 1991,'' Karakoyunlu told in a news conference.

Karakoyunlu said that the aim of the Tobacco Law no 4685 is to sort out the problems of tobocco prodution, tobacco producers, cigarette production and to privatize TEKEL.

Noting that tobacco production is carried out by nearly 600,000 tobacco producers, Karakoyunlu said that Turkey is ranked the fourth in tobacco production after China, the U.S., India in the last five years.

The Turkish tobacco constitutes the most qualified eastern type tobacco of the world and it creates a significant demand in the world.

Tobacco is planted in totally 41 provinces and 181 towns for the moment, Karakoyunlu said that an income worth of 400 million dollars is provided from tobacco exportation.

Karakoyunlu said that the need for Turkish tobacco is believed to be around 180,000 tonnes, adding that 65,000 tonnes of it is purchased by tobacco tradesmen and the remaining 115 tonnes of it is purchased by TEKEL. In fact, the real tobacco need of TEKEL is around 55,000 tonnes, adding that the remaining 60,000 tonnes is purchased within the scope of the state policy to support farmers.

Karakoyunlu said that 70,000 tonnes of the total tobacco production is used for producing cigarette, 100,000 tonnes of it is exported and 10,000 tonnes of it is wasted.

''If 180,000 tonnes of tobacco is produced in Turkey, there won't be any problem. The thing that matters is the fact that state urges TEKEL to buy the excessive amounts of tobacco and the cost of it is not paid and this is a heavy burden for TEKEL and the country. The duty loss caused by tobacco purchase by TEKEL is nearly two quadrillion liras and this has not been paid to TEKEL to date,'' said Karakoyunlu.

[12] NUCLEAR WASTE PROJECT OF RUSSIA -ENVIRONMENT MINISTER AYTEKIN:''ENVIRONMENT MINISTRY WILL APPLY TO ALL LEGAL WAYS TO PREVENT PASSAGE OF NUCLEAR WASTES FROM TURKISH TERRORIAL WATERS''

Aytekin issued a written statement regarded with the project of Russia to pass nuclear wastes from the straits with ships.

Aytekin pointed out that in case the tankers, carrying oil collide with the ships that carry nuclear wastes or crash into shores, lives of people living in the regional countries of the Aegean and the Black Sea will be endangered as well as those who live in the Marmara Sea and around the straits.

Aytekin said the project in question was related with passage of 20,000 tonnes of nuclear wastes from Europe within 10 years in return for 20 billion U.S. dollars through the straits and storing it in Russia, and noted that the project was approved by Vladimir Putin, the Russian Head of State, and took effect.

''Nuclear wastes should not be thought like any hazardous waste. In case the ships loaded with nuclear wastes make accident in Marmara or the Straits, the radiation, which will spread around will effect all the neighboring countries for long years. Putin approved this decision without thinking of the security of life of his people and without applying to the approval of Russian people,'' Aytekin said.

Pointing out that the straits regime was regulated with the Montreux Treaty signed on July 20, 1936, Aytekin said the Treaty foresaw safe and harmless passages from the seas.

Aytekin said international agreements were signed regarded with the nuclear and hazardous wastes, noting that, ''in those agreements, decisions are taken for removal of those wastes in their places.'' Aytekin pointed out that decisions which were taken regarded with the removal of the nuclear wastes in Russia would create a disaster on Russian people and the regional people that can not be compensated.

Aytekin said the Environment Ministry would apply to all legal ways to prevent the passage of the nuclear wastes from the Turkish territorial waters.

[13] STATE MINISTER ONAL: ''BOTTLENECK IN ECONOMY STEMS FROM WEAKNESS IN MARKET''

Responding to the questions of reporters who said that Argentina crisis negatively effected financial markets in Turkey, Onal said Turkey, which adopted free market economy since 1980's, was included in the global economy.

Stressing that the globalization had benefits as well as the harms, Onal said, ''all those incidents stem from the weakness in markets. In Turkey, efforts are underway to rehabilitate the financial sector, and to enliven the real sector which represent production. However, the financial actors have not reached the desired depth. To this end, the markets can be influenced by any speculation.''

Onal said balances in the markets would be restored if productive economic relations are removed, noting that with the increase of production of quality goods, the problem of employement would also be solved.

[14] STATE MINISTER KARAKOYUNLU DENIES CLAIMS THAT TURKEY TO BECOME FOREIGN CIGARETTE HEAVEN

Karakoyunlu pointed out that the new tobacco law aims at enabling farmers to produce the necessary and qualified amount of tobacco.

Speaking in a news conference, Yılmaz Karakoyunlu said that

the imported cigarette is very expensive when compared to the cigarette produced in Turkey. The price of one foreign cigarette packet increases a lot when the taxes put on it are also taken into consideration.

''It is not possible to expect the cigarettes produced by Turkish tobacco to be imported to Turkey with foreign brand, as these cigarette becomes very expensive in Turkey if it is presented to the market,'' Karakoyunlu said and noted that no cigarette was imported in the years of 1999, 2000 and 2001.

Responding to a question, Karakoyunlu said that four ministers came together upon the directive of the Prime Minister and they were charged to carry out studies to prepare the alternative product projects to tobacco. The four ministers including him will issue a news conference soon about their studies soon, he added.

When asked if they would send the Tobacco Law back to President Sezer, Karakoyunlu said that the government will wait for September.

[15] SPK AIMS TO INCLUDE SAVINGS TO ECONOMY

The SPK will hold trainings and informative works in 14 provinces in Turkey and in regions where Turkish citizen are intensely populated in foreign countries.

Foreign Ministry and Directorate General of Religious Affairs will conduct the works abroad.

With the project, the SPK aims to include the savings, which are estimated to be 10 billion U.S. dollars within Turkey and 25 billion U.S. dollars in foreign countries, to economy.

[16] STATE MINISTER DERVIS: ''WITH THE ARRIVAL OF THIS MONEY OUR ROAD HAS OPENED UP. WE WILL CONTINUE ON THE PATH WE ARE FOLLOWING''

Dervis convened the French Entrepreneurs' Movement (MEDEF) delegation at luncheon in the French Embassy in Ankara.

Speaking to reporters following the lunch, Dervis said Treasury Undersecretary gave detailed information this morning pertaining to the recent developments, stressed that it would be benefical to examine the figures.

''The figures and the realities don't give place to any concerns. Decisions of the IMF and the World Bank given on Thursday were also positive. They have released the second tranche, worth of 3.2 billion U.S. dollars. I think if we support each other and love each other, then Turkey will definitely move for the better. But we have to all act together, of course there will be problems but we have to solve them with sweetness and continue along our path,'' Dervis said.

Pointing out that message of Prime Minister Bulent Ecevit on Thursday was on the same direction, Dervis said, ''I think it was a very positive message. It restored confidence both in our people and the markets. We should act together and in a determined way in this respect.''

Stressing that unemployment problem was the number one problem of Turkey at the moment, Dervis said, ''we should implement the program and support each other to overcome this.''

''I think today is an important day. Because there is an obvious relief in the markets. You know, the Argentina problem effected us negatively in the past two days. However, with the arrival of this money, the ways are opened, and we will continue on our path,'' Dervis said.

Meanwhile, it was reported that Dervis briefed about the economic program during his meeting with the French businessmen.

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