Simsek: "No one is immune from the global crisis, but Turkey should feel minimal effects"

The ongoing global financial crisis will inevitably affect everyone, but Turkey less so, said State Minister for the Economy Mehmet Simsek yesterday. "The world is going through a difficult period," he told reporters after his meetings in Washington with World Bank and International Monetary Fund officials. "No country, no company, and no individual is immune to the crisis. This crisis will influence Turkey like other countries. But we think this effect will be limited, as the foundations of Turkey's banking sector are firm." Simsek added that technical work on a standby agreement with the IMF was continuing and that a delegation will come to Turkey as part of this.