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ANKARA, Dec 15 (Reuters) - An International Monetary Fund team will visit Turkey in early January at the invitation of the Turkish Treasury for talks on a new economic programme, the Treasury said on Monday.
Turkey is expected to sign a stand-by or a precautionary stand-by deal with the IMF as the country faces a $130 billion funding requirement in 2009.
"Significant progress has been achieved in the technical work for making a programme between Turkey and the IMF," the Treasury said.
Turkish business leaders and investors have been calling for a loan accord with the Fund to boost the Turkish economy, which has slowed sharply this year while its markets have been battered by fallout from the global financial crisis.
IMF support has helped Turkey recover from a financial crisis in 2001 and economic growth since then has been around 7 percent a year. Turkey's previous US$10 billion stand-by accord expired in May.
"An IMF team has been invited to Turkey to hold talks on the policies, structural adjustments and the programme contents within the framework of a programme to be signed with the IMF," the Treasury said.
Turkey is expected to seek a loan agreement with the International Monetary Fund amounting to US$25 billion and it may take the form of an 18-month stand-by deal, government sources told Reuters earlier this month.
Economy Minister Mehmet Simsek was quoted as saying at the weekend that a loan agreement with the IMF would be in Turkey's interests.
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