Erdogan: Turkey does not need loans from IMF

Erdogan: Turkey does not need loans from IMF

The development of the region depends on Turkey's achievements, President Recep Tayyip Erdogan said.

According to the Turkish leader, Ankara is responsible for the development of the region.

Erdogan said that the governmental structures and Turkish companies should carry out their activities, taking into account the current situation and with an emphasis on innovations.

He recalled that in 2002, when the ruling Justice and Development Party came to power, the country’s IMF debt was $ 22.5, billion, and the foreign exchange reserves of the Central Bank amounted to $ 27.5 billion.

 

"Over the years we have closed our debt to the IMF, and the country’s Central Bank firmly stands on its feet,’’ the Turkish leader said, adding that the country does not need to obtain new loans from the IMF,  Trend reports.

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