Turkey's IMF credit grade increased

Under an expanded credit grade as well as increased representation, Turkey will now have significantly greater access to funds from the International Monetary Fund. Under the revised regime, Turkey will be able to draw on $42 billion in IMF funds. On the implementation of these IMF reforms, G-20 countries are set to complete their internal legal processes by the 2012 IMF/World Bank meetings. A country's quota level, under IMF procedures, is the basis for the amount of IMF funds that country may use. Currently Turkey is represented on the IMF Executive Committee by Belgium.