Lagarde says Turkey to belong to 20 largest economies in IMF

Turkey’s quota in IMF to quadruple

The International Monetary Fund’s (IMF) Turkey representative has said that Turkey’s quota in the IMF would quadruple and the country would become one of the 20th largest economies in the fund.

Speaking to AA correspondent, Mark Lewis said that Turkey would become one of the the 20th largest economies in the fund after the IMF Executive Board approved the administrative reform proposal.

Lewis quoted IMF President Christine Lagarde as saying that Turkey should have a more comprehensive role in the IMF.

Lewis said that Turkey and the IMF had powerful relations.

Turkey had a sound macroeconomic basis, he said, adding that Turkey should keep focusing on sound policies against current difficulties.

Turkey still was attractive for direct international investments, he said.

Lewis said that inflation rate in Turkey was expected as nearly 8.5 percent for the end of 2012.

Turkey showed a great performance in economic growth in the past decade, he added.

25.05.2012
SOURCE: CUMHURIYET ENGLISH