Simsek: "A new IMF loan deal is very close"

In a televised interview yesterday, State Minister for the Economy Mehmet Simsek said that great progress has been made in talks with the International Monetary Fund towards a new loan agreement, adding that they expect to sign a deal by the Fund's spring Executive Board meeting later this month. Saying that during the recent G-20 meeting in London, the Fund tripled its budget for loans to countries hurt by the global economic crisis, Simsek added that this could help Turkey get a bigger loan with better terms.