Turkey pays off debt to IMF

Deputy Prime Minister Ali Babacan and Treasury Secretary Ibrahim Canakci on Tuesday attended a ceremony in the Central Bank for the transfer of final installment of the IMF debt. During the ceremony in Ankara, Babacan pushed the button for paying off the last installment of its debt to the IMF, and thus freed Ankara of IMF debts for the first time in 19 years. Furthermore, Turkey committed IMF to extend USD 5 billion loan. "We have just transferred the money with a value date of May 14, and today is the day that we have paid off the debt to IMF. I hope it will bring good luck for our country," said Babacan.